Mortgage Applications Increase in Latest MBA Weekly Survey

Mortgage applications increased 21.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 8, 2016. The previous week’s results included an adjustment for the New Year’s holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 21.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 76 percent compared with the previous week. The Refinance Index increased 24 percent from the previous week. The seasonally adjusted Purchase Index increased 18 percent from one week earlier. The unadjusted Purchase Index increased 74 percent compared with the previous week and was 19 percent higher than the same week one year ago.

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