Mortgage Applications Rose 3.7% in Week Ending January 19

Washington, DC, January 24, 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 January 19, 2024. The results include an adjustment to account for the MLK holiday.

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 decreased 4% compared with the previous week. The holiday adjusted Refinance Index decreased 7% from the previous week and was 8% lower than the same week one year ago. The unadjusted Refinance Index decreased 16% from the previous week and was 8% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 8% from one week earlier. The unadjusted Purchase Index increased 3% compared with the previous week and was 18% lower than the same week one year ago.