Mortgage Applications Increased 16.0% in First Full Week of July
Washington, DC, July 14, 2021-Mortgage applications increased 16.0% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending July 9, 2021.
This week's results include an adjustment for the Fourth of July holiday.
The Market Composite Index, a measure of mortgage loan application volume, increased 16.0% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 7% compared with the previous week. The Refinance Index increased 20% from the previous week and was 29% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 8% from one week earlier. The unadjusted Purchase Index decreased 13% compared with the previous week and was 29% lower than the same week one year ago.