Mortgage Applications Rose 1.4% in First Week of January
Washington, DC, January 12, 2022-Mortgage applications increased 1.4% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending January 7, 2022. The previous week's results included an adjustment for the holidays.
The Market Composite Index, a measure of mortgage loan application volume, increased 1.4% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 46% compared with the previous week. The Refinance Index decreased 0.1% from the previous week and was 50% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 2% from one week earlier. The unadjusted Purchase Index increased 51% compared with the previous week and was 17% lower than the same week one year ago.