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Mortgage Apps Rise on Temporary Rate Retreat

Wednesday, June 24, 2015

Mortgage applications, which posted eight declines in the last nine weeks, recovered a bit during the week ended June 19.  The Mortgage Bankers Association (MBA) said mortgage applications posted gains in all categories and the Market Composite Index, a measure of overall application volume, rose 1.6 percent on a seasonally adjusted basis and 1.0 percent unadjusted from the week ended June 12.

The Refinance Index increased 2 percent from the prior week and the refinancing share of applications increased to 49.0 percent from 48.5 percent.  The index measuring purchase applications rose 1 percent from the previous week on a seasonally adjusted basis but was unchanged on an unadjusted basis.  The unadjusted Purchase Index was 18 percent higher than during the same week in 2014. 

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