Mortgage Applications Rose 2.3% in Week Ending August 25

Washington, DC, August 30, 2023-Mortgage applications increased 2.3% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 25, 2023. 

The Market Composite Index, a measure of mortgage loan application volume, increased 2.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1% compared with the previous week. The Refinance Index increased 3% from the previous week and was 28% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 2% from one week earlier. The unadjusted Purchase Index decreased 0.3% compared with the previous week and was 27% lower than the same week one year ago.