Mortgage Applications Rose 4.6% Last Week
Washington, DC, October 7, 2020-Mortgage applications increased 4.6% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 2, 2020.
The Market Composite Index, a measure of mortgage loan application volume, increased 4.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 5% compared with the previous week. The Refinance Index increased 8% from the previous week and was 50% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 2% from one week earlier. The unadjusted Purchase Index decreased 1% compared with the previous week and was 21% higher than the same week one year ago.