Saturday, March 25, 2023 | The Latest Buzz for the Appraisal Industry

Application Volume Rises Despite Rate Surge

An increase in home purchase activity drove mortgage applications higher during the week ended June 17. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, rose 4.2 percent on a seasonally adjusted basis and was up 3.0 percent from the prior week on an unadjusted basis. The seasonally adjusted Purchase Index increased by 8.0 percent for the second consecutive week and was 6.0 percent higher before adjustment.

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