Mortgage Applications Rose 1.1% in Week Ending July 14

Washington, DC, July 19, 2023-Mortgage applications increased 1.1% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 14, 2023. Last week’s results included an adjustment for Independence Day.

The Market Composite Index, a measure of mortgage loan application volume, increased 1.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 27% compared with the previous week. The Refinance Index increased 7% from the previous week and was 32% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index increased 24% compared with the previous week and was 21% lower than the same week one year ago.