Mortgage Applications Rose 2.6% in Week Ending May 3

Washington, DC, May 8, 2024-Mortgage applications increased 2.6% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 3, 2024. 

The Market Composite Index, a measure of mortgage loan application volume, increased 2.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 3% compared with the previous week. The Refinance Index increased 5% from the previous week and was 6% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 2% from one week earlier. The unadjusted Purchase Index increased 2% compared with the previous week and was 17% lower than the same week one year ago.