The Mortgage Bankers Association (MBA) said
mortgage application volume rose for the first time in five weeks during the
week ended February 7. MBA's Market
Composite Index, a measure of that volume, increased 3.6 percent on a
seasonally adjusted basis from the index for the week ended February 8. That index was revised, according to MBA,
after additional data was received from participants in the Mortgage
Application Survey. The week's volume
was 7 percent higher on a non-adjusted basis. The refinance Index was up 6 percent. The refinance share of mortgage activity
decreased to 41.7 percent of total applications from 41.8 percent the previous
week.