Talking Points …
- Mortgage applications increased 7.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Survey.
- Market Composite Index, a measure of mortgage loan application volume, increased 7.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 52 percent compared with the previous week.
- The refinance share of mortgage activity increased to 64 percent of total applications from 60 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 7 percent of total applications.