Mortgage Applications Rose 9.9% in Week Ending January 5

Washington, DC, January 10, 2024-Mortgage applications increased 9.9% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 5, 2024. The results include an adjustment to account for the New Year’s holiday.

The Market Composite Index, a measure of mortgage loan application volume, increased 9.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 45% compared with the previous week. The holiday adjusted Refinance Index increased 19% from the previous week and was 30% higher than the same week one year ago. The unadjusted Refinance Index increased 53% from the previous week and was 17% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 6% from one week earlier. The unadjusted Purchase Index increased 40% compared with the previous week and was 16% lower than the same week one year ago.