Mortgage Application Volume Ends February on an Upswing

MBAA - Mortgage Apps Reverse CourseFor the week ending February 28, 2014, mortgage application volume ended the month on an upswing according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. On a seasonally adjusted basis, the MBA survey revealed a 9.4% from the week before with the Refinance Index increasing by 10% and Purchase Index increasing by 9%.

While the President’s Day holiday was not adjusted for in the previous week’s survey results, the MBA reported that “The seasonally adjusted Purchase Index was 6 percent higher than its level two weeks earlier, but was still 19 percent lower than the same week one year ago…the Refinance Index is still 3 percent lower than it was two weeks ago.” Read more at http://bit.ly/MOzSFq.

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