Mortgage Application Volume Makes a Return to Positive Territory

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Posted To: MND NewsWire

The Mortgage Bankers Association (MBA) said mortgage application volume rose for the first time in five weeks during the week ended February 7. MBA’s Market Composite Index, a measure of that volume, increased 3.6 percent on a seasonally adjusted basis from the index for the week ended February 8. That index was revised, according to MBA, after additional data was received from participants in the Mortgage Application Survey. The week’s volume was 7 percent higher on a non-adjusted basis. The refinance Index was up 6 percent. The refinance share of mortgage activity decreased to 41.7 percent of total applications from 41.8 percent the previous week. The Purchase Index gained 2 percent on a seasonally adjusted basis, ending a slide of four consecutive weeks. It was 7 percent higher on an unadjusted…(read more)

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