Mortgage applications and refinancing activity were up last week, according to data from the Mortgage Bankers Association's (MBA) weekly mortgage applications survey for the week ending Sept. 21.
The MBA's market composite index increased 2.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index increased 3% compared with the previous week.Â
The refinance index increased 3% from the previous week to the highest level in six weeks. The refinance share of mortgage activity increased to 81.2% of total applications from the previous week, the highest refinance share since early August.Â
The seasonally adjusted purchase index increased 1% from one week earlier. The unadjusted purchase index decreased 0.3% compared with the previous week, and was 5% higher than the same week one year ago.