Mortgage applications increased 0.2% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) weekly mortgage applications survey for the week ending Oct. 28.Â
The market composite index – a measure of mortgage loan application volume – increased 0.2% on a seasonally adjusted basis from the previous week. On an unadjusted basis, the index remained unchanged.
The refinance index decreased 0.2% from the previous week, while the seasonally adjusted purchase index increased 1.8%. The unadjusted purchase index increased 0.8% compared with the previous week and was 2.1% lower than the same week one year ago.
The four-week moving average is down 2.5% for the seasonally adjusted market index. The four-week moving average is down 0.06% for the seasonally adjusted purchase index, while this average is down 3.19% for the refinance index.