Mortgage Applications Rose 6.8% in Third Week of September
Washington, DC, September 23, 2020-Mortgage applications increased 6.8% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 18, 2020.
The previous week's results included an adjustment for the Labor Day holiday.
The Market Composite Index, a measure of mortgage loan application volume, increased 6.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 18% compared with the previous week. The Refinance Index increased 9% from the previous week and was 86% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 3% from one week earlier. The unadjusted Purchase Index increased 13% compared with the previous week and was 25% higher than the same week one year ago.