Mortgage Applications Increase in Latest MBA Weekly Survey

The latest Weekly Mortgage Application Survey of the Mortgage Bankers Association -- with data for the week ending June 1, 2012 -- was released Wednesday, June 6.

• The Market Composite Index, a measure of mortgage loan application volume, increased 1.3% on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index decreased over 9% compared with the previous week.

• The Refinance Index increased 2% from the previous week to its highest level since February 10, 2012.

• The seasonally adjusted Purchase Index decreased slightly from one week earlier to its lowest level since April 13, 2012. The unadjusted Purchase Index decreased 13% compared with the previous week and was 3% lower than the same week one year ago.

The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.

For additional information, visit MBA's web site: www.mortgagebankers.org.