Mortgage Applications Rose 0.5% in Week Ending August 23

Washington, DC, August 28, 2024-Mortgage applications increased 0.5% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 23, 2024. 

The Market Composite Index, a measure of mortgage loan application volume, increased 0.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1% compared with the previous week. The Refinance Index decreased 0.1% from the previous week and was 85% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 1% from one week earlier. The unadjusted Purchase Index decreased 1% compared with the previous week and was 9% lower than the same week one year ago.