Mortgage Applications Rose 12% in Last Full Week of January
Washington, DC, February 2, 2022-Mortgage applications increased 12.0% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending January 28, 2022.
The Market Composite Index, a measure of mortgage loan application volume, increased 12.0% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 15% compared with the previous week. The Refinance Index increased 18% from the previous week and was 50% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 4% from one week earlier. The unadjusted Purchase Index increased 12% compared with the previous week and was 7% lower than the same week one year ago.