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Purchase Applications Strengthen; Refis Wallow at Long-Term Lows

Wednesday, March 14, 2018

Purchase mortgage applications held their ground for the third consecutive week, pushing the Mortgage Banker Association's Market Composite Index a bit higher.  The Index, a measure of mortgage loan application volume, increased 0.9 percent on a seasonally adjusted basis during the week ended March 9.  The Index increased 2 percent on an unadjusted basis.

There was a 3 percent gain in the seasonally adjusted Purchase Index. The unadjusted Purchase Index increased 5 percent compared with the week ended March 2 and was 3 percent higher than the same week one year ago.

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