Purchase Applications Resume Upward Climb

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Posted To: MND NewsWire

Overall mortgage application activity resumed an upward trend last week, with another strong showing for purchase volume. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, increased 2.3 percent on a seasonally adjusted basis during the week ended March 8. On an unadjusted basis, the Index was up 3 percent compared with the previous week. The seasonally adjusted Purchase Index gained 4 percent from the prior week and was 6 percent higher unadjusted. Purchase applications were 2 percent higher than during the same week in 2018. The Refinance Index dipped 0.2 percent and refinance applications dropped to 38.6 percent of the total from 40.0 percent the prior week. It was the lowest share for refinancing since the week ended November 23, 2018…(read more)

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