Mortgage Applications Increase in Latest MBA Weekly Survey

Mortgage Bankers Association press release ----- Mortgage applications increased 5.8 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending February 24, 2017. This week's results included an adjustment for the Presidents' Day holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 5.8 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3 percent compared with the previous week. The Refinance Index increased 5 percent from the previous week to its highest level since December 2016. The seasonally adjusted Purchase Index increased 7 percent from one week earlier. The unadjusted Purchase Index decreased 1 percent compared with the previous week and was 5 percent lower than the same week one year ago, which did not include the Presidents' Day holiday. To learn more click on the picture below to read the release.