Mortgage Applications Rose 16.7% in First Week of January
Washington, DC, January 13, 2021-Mortgage applications increased 16.7% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending January 8, 2021. The previous week's results included an adjustment for the holidays.
The Market Composite Index, a measure of mortgage loan application volume, increased 16.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 69% compared with the previous week. The Refinance Index increased 20% from the previous week and was 93% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 8% from one week earlier. The unadjusted Purchase Index increased 60% compared with the previous week and was 10% higher than the same week one year ago.