Mortgage Applications Rose 0.5% in Week Ending May 10

Washington, DC, May 15, 2024-Mortgage applications increased 0.5% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 10, 2024. 

The Market Composite Index, a measure of mortgage loan application volume, increased 0.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 0.3% compared with the previous week. The Refinance Index increased 5% from the previous week and was 7% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 2% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 14% lower than the same week one year ago.