Mortgage applications increased 11.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) weekly mortgage applications survey for the week ending Sept. 7. This week's results include the customary upward adjustment for the Labor Day holiday.
The MBA's market composite index increased 11.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index decreased 12% compared with the previous week.Â
The adjusted refinance index increased 12% from the previous week. The refinance share of mortgage activity increased to 80% of total applications from 79% the previous week.
The seasonally adjusted purchase index increased 8% from one week earlier. The unadjusted purchase index decreased more than 15% compared with the previous week and was 7% higher than the same week one year ago.