Mortgage Applications Rose 1.9% in Week Ending May 17

Washington, DC, May 22, 2024-Mortgage applications increased 1.9% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 17, 2024. 

The Market Composite Index, a measure of mortgage loan application volume, increased 1.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1.1% compared with the previous week. The Refinance Index increased 7% from the previous week and was 21% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 11% lower than the same week one year ago.