Mortgage Applications Increase After Several Weeks Of Decline
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Loading... - Tyler McDonald
- 09 Mar 2023
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After four straight weeks of declines, mortgage applications increased 7.4% from one week earlier, according to the latest Weekly Mortgage Applications Survey from the Mortgage Bankers Association’s (MBA), for the week ending March 3, 2023.
This week’s numbers:
- The Market Composite Index, a measure of mortgage loan application volume, increased 7.4% on a seasonally adjusted basis from one week earlier.
- On an unadjusted basis, the Index increased 9% compared with the previous week.
- The Refinance Index increased 9% from the previous week and was 76% lower than the same week one year ago.
- The seasonally adjusted Purchase Index increased 7% from one week earlier.
- The unadjusted Purchase Index increased 9% compared with the previous week and was 42% lower than the same week one year ago.
- The refinance share of mortgage activity increased to 28.9% of total applications from 28.7% the previous week.
- The adjustable-rate mortgage (ARM) share of activity increased to 8.6% of total applications.
