Mortgage Applications Increased 2.1% in First Week of May

Washington, DC, May 12, 2021-Mortgage applications increased 2.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending May 7, 2021. 

The Market Composite Index, a measure of mortgage loan application volume, increased 2.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2% compared with the previous week. The Refinance Index increased 3% from the previous week and was 12% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 1% from one week earlier. The unadjusted Purchase Index increased 1% compared with the previous week and was 13% higher than the same week one year ago.