Mortgage Applications Rose 0.7% in Week Ending June 24

Washington, DC, June 29, 2022-Mortgage applications increased 0.7% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 24, 2022. This week’s results include an adjustment for the observance of the Juneteenth holiday.

The Market Composite Index, a measure of mortgage loan application volume, increased 0.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 20% compared with the previous week. The Refinance Index increased 2% from the previous week and was 80% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 0.1% from one week earlier. The unadjusted Purchase Index decreased 21% compared with the previous week and was 24% lower than the same week one year ago.