Mortgage Applications Increase in Latest MBA Weekly Survey

Mortgage Bankers Association (MBA) press release ---- Mortgage applications increased 2.3 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending February 3, 2017. The market Composite Index, a measure of mortgage loan application volume, increased 2.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 6 percent compared with the previous week. The Refinance Index increased 2 percent from the previous

week. The seasonally adjusted Purchase Index increased 2 percent from one week earlier. The unadjusted Purchase Index increased 9 percent compared with the previous week and was 4 percent higher than the same week one year ago.

The refinance share of mortgage activity decreased to 47.9 percent of total applications, its lowest level since June 2009, from 49.4 percent the previous week.

The adjustable-rate mortgage (ARM) share of activity increased to 6.9 percent of total applications. For more information on mortgage applications increasing in latest MBA weekly survey click on the picture below to read more.