Mortgage Applications Increased 8.1% in Fourth Week of January
Washington, DC, February 3, 2021-Mortgage applications increased 8.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending January 29, 2021.
The Market Composite Index, a measure of mortgage loan application volume, increased 8.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 10% compared with the previous week. The Refinance Index increased 11% from the previous week and was 59% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 0.1% from one week earlier. The unadjusted Purchase Index increased 8% compared with the previous week and was 16% higher than the same week one year ago.