Mortgage Applications Rose 7.4% in Week Ending February 3
Washington, DC, February 8, 2023-Mortgage applications increased 7.4% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 3, 2023.
The Market Composite Index, a measure of mortgage loan application volume, increased 7.4% 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 18% from the previous week and was 75% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 3% from one week earlier. The unadjusted Purchase Index increased 4% compared with the previous week and was 37% lower than the same week one year ago.