Mortgage Applications on the Rise

Good news from the Mortgage Bankers Association (MBA). The group released its Weekly Mortgage Applications Survey Wednesday for the week ending January 28, revealing a volume increase of 11.3 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 13.2 percent compared with the previous week.  The previous week did not include a holiday adjustment for Martin Luther King, Jr. Day. The Refinance Index increased 11.7 percent from the previous week.  The seasonally adjusted Purchase Index increased 9.5 percent from one week earlier. The unadjusted Purchase Index increased 16.7 percent compared with the previous week and was 21.4 percent lower than the same week one year ago.
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