Mortgage Application Activity Surges

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Posted To: MND NewsWire

The pace of mortgage applications picked up during the week ended April 13, ending a two-week slide. The Mortgage Bankers Association (MBA) reported its indices for both purchase mortgages and refinances improved significantly compared to the week ended April 6. The Market Composite Index a measure of total application volume, increased 4.9 percent on a seasonally adjusted basis and was 6 percent higher without adjustment. The Purchase Index was also up 6 percent seasonally adjusted and rose 7 percent compared to the previous week on an unadjusted basis. The unadjusted index, which had fallen below the level for the same week in 2017 in the prior report, was 10 percent higher than its 2017 counterpart. The Refinance Index was also up, increasing 4 percent compared to the previous week, but…(read more)

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