Mortgage Applications Rose 3.7% in Week Ending February 2

Washington, DC, February 7, 2024-Mortgage applications increased 3.7% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 2, 2024. 

The Market Composite Index, a measure of mortgage loan application volume, increased 3.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 8% compared with the previous week. The Refinance Index increased 12% from the previous week and was 1% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index increased 6% compared with the previous week and was 19% lower than the same week one year ago.