Mortgage Applications Rose 2.9% in First Week of September
Washington, DC, September 9, 2020-Mortgage applications increased 2.9% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 4, 2020.
This week's results are being compared to the week of Labor Day 2019.
The Market Composite Index, a measure of mortgage loan application volume, increased 2.9% 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 60% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 3% from one week earlier. The unadjusted Purchase Index increased 0.2% compared with the previous week and was 40% higher than the same week one year ago.