Mortgage Applications Rose 0.9% in Week Ending July 7
Washington, DC, July 12, 2023-Mortgage applications increased 0.9% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 7, 2023.
This week’s results include an adjustment for the observance of Independence Day.
The Market Composite Index, a measure of mortgage loan application volume, increased 0.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 19% compared with the previous week. The Refinance Index decreased 1% from the previous week and was 39% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 2% from one week earlier. The unadjusted Purchase Index decreased 19% compared with the previous week and was 26% lower than the same week one year ago.