Mortgage applications increase on higher purchase volume

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After falling 6.7% the previous week, mortgage. a whopping 49% higher compared with the same week one year ago. The refinance share of mortgage activity fell to 57.4% of total applications from.

The Market Composite Index, a measure of mortgage loan application volume, increased 2.4 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2.

Weekly mortgage applications drop 4.6% on higher rates. Despite higher rates, applications to purchase homes did manage a slight gain, up 1 percent from the previous week to the highest level.

Mortgage Applications Increase Published on May 14, "Purchase mortgage application volume last week increased to its highest level since July 2013, spurred on by still low mortgage rates and.

This represented a 1 percent increase from the previous week. Purchase mortgage application volume fell 2 percent on a seasonally-adjusted basis from the previous week and 6 percent on an unadjusted basis. When compared to the same week in 2011, the purchase index was 2 percent higher on an un-adjusted basis.

"Led by a 5.5 percent increase in FHA loan applications, purchase activity picked up last week and was almost 2 percent higher than a year.