The Mortgage Bankers Association's (MBA) most recently Weekly Mortgage Applications Survey has compiled data for the week ending March 1, 2013. According to this information, the number of mortgage applications filed has increased by 14.8% compared to a week earlier. The volume of mortgage loan applications is determined by the Market Composite Index. It tallied the current data on a seasonally adjusted basis. On an unadjusted basis, the Index increased 15% compared to last week.
The number of refinance applications remains the same as last week, sitting at 77% of total applications.
These statistics are good for the mortgage industry. The increase of applications proves that more and more people are continuing to leap into the world of homeownership. This hints that the economy is recovering and jobs are stable.
Thursday, March 7, 2013
Number of Mortgage Apps Increase
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