Purchase Mortgage Applications Hit 8-Year High


Posted To: MND NewsWire

Mortgage applications continue on the tear they started during the first week of 2018. The Mortgage Bankers Association’s (MBA’s) Market Composite Index, a measure of loan application volume, increased 4.5 percent on a seasonally adjusted basis during the week ended January 19. The gain came on the heals of 8.3 percent and 4.1 percent increases in the first two weeks of the year. The index was down 4 percent on an unadjusted basis, possibly because the week included the Martin Luther King holiday. Both the Refinancing and Purchase Indexes saw gains. The seasonally adjusted Purchase Index was up 6 percent from the week ended January 12, its fourth straight increase, and was the highest since April 2010. The unadjusted index rose 2 percent week-over-week and was up 7 percent from the same week…(read more)

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