Mortgage Purchase Applications Rise 3.3% Since Last Week, But DOWN -10% Since Same Week Last Year (Goin’ Down!)

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Mortgage application increased on the latest survey from the Mortgage Bankers Association, but mortgage purchase application are still down compared to one year ago.

Mortgage applications increased 3.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 12, 2024.

The Market Composite Index, a measure of mortgage loan application volume, increased 3.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 4 percent compared with the previous week.  The seasonally adjusted Purchase Index increased 5 percent from one week earlier. The unadjusted Purchase Index increased 6 percent compared with the previous week and was 10 percent lower than the same week one year ago.

The Refinance Index increased 0.5 percent from the previous week and was 11 percent higher than the same week one year ago.

Bidenomics, a massive subsidy to the political donor class, but heartless towards the middle class.

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