Mortgage Applications Rose 5.4% for Week Ending September 15

Washington, DC, September 20, 2023-Mortgage applications increased 5.4% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 15, 2023. Last week’s results included an adjustment for the Labor Day holiday.

The Market Composite Index, a measure of mortgage loan application volume, increased 5.4% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 16% compared with the previous week. The Refinance Index increased 13% from the previous week and was 29% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 2% from one week earlier. The unadjusted Purchase Index increased 12% compared with the previous week and was 26% lower than the same week one year ago.