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Mortgage Apps Rise; Prices Hit Record High

Wednesday, November 18, 2015

It was another holiday muddled week for the Mortgage Bankers Association's Market Composite Index.  The index, a measure of applications volume, rose 6.2 percent on a seasonally adjusted basis but fell 6.0 percent on a non-adjusted basis.  The week's results included an adjustment for the Veterans Day holiday.

The Purchasing indexes were also bifurcated with the seasonally adjusted index increasing 12 percent while the unadjusted index was down 3 percent compared to the previous week.  The unadjusted Index was 19 percent above its level during the same week in 2014.  The measure of refinancing was at least clear, that index, which is unadjusted, increased 2 percent from the week ended November 6.

 

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