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Mortgage-Loan Applications at Record High Level, Up 18.1%

WASHINGTON, DC-On an unadjusted basis, says the MBA, the application index increased 6.5%. The index reveals an increase of 297.8% compared with the same week a year ago.

By Marlon Millner | Updated on October 18, 2001

WASHINGTON, DC-Results of the MBA’s weekly mortgage-application survey for the week ended October 12 show that the composite index increased from the previous week’s 860.1% to 1015.4. That’s a spike of 18.1% on a seasonally adjusted basis. On an unadjusted basis, the application index increased 6.5% and was up 297.8% percent compared with the same week a year earlier.

Refinancing activity represented 76.5% of total applications, increasing from 73.8%. Last week, both the seasonally adjusted market composite and the refinance indexes reached their highest levels since the Weekly Applications Survey was started in January 1990.

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