Mortgage Applications Rose 16.8% in Week Ending August 9

Washington, DC, August 14, 2024-Mortgage applications increased 16.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 9, 2024. 

The Market Composite Index, a measure of mortgage loan application volume, increased 16.8% 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 35% from the previous week and was 118% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 3% from one week earlier. The unadjusted Purchase Index increased 2% compared with the previous week and was 8 percent lower than the same week one year ago.