Mortgage Applications Rose 1.7% in Fourth Week of October
Washington, DC, October 28, 2020-Mortgage applications increased 1.7% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 23, 2020.
The Market Composite Index, a measure of mortgage loan application volume, increased 1.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2% compared with the previous week. The Refinance Index increased 3% from the previous week and was 80% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 0.2% from one week earlier. The unadjusted Purchase Index decreased 0.3% compared with the previous week and was 24% higher than the same week one year ago.