Posted To: MND NewsWire

Mortgage application activity bounced back from the Memorial Day holiday week with a seasonally adjusted increase of 4.2 percent in the Mortgage Bankers Association’s (MBA’s) Market Composite Index. On an unadjusted basis the index rose 15 percent. The prior week’s results included an adjustment to account for the holiday. The Refinance Index for the week ended June 11 was up 6 percent from the prior week but was 22 percent lower than the same week one year ago. The refinance share of mortgage activity increased to 61.7 percent of total applications from 60.4 percent the previous week. The seasonally adjusted Purchase Index gained 2 percent and was 11 percent higher on an unadjusted basis. Activity was down 17 percent compared to the same week in 2020. Refi Index vs 30yr Fixed Purchase Index…(read more)

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Published On: June 16, 2021 / Categories: Mortgage News /