Mortgage applications and refinance activity were on the rise for the week ending Dec. 7, according to data from the Mortgage Bankers Association's (MBA) weekly mortgage applications survey.
The MBA's market composite index increased 6.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index increased 6% compared with the previous week.Â
The refinance index increased 8% from the previous week and is at its highest level since the week ending Oct. 12. The refinance share of mortgage activity increased to 84% of total applications from 82% the previous week. Â
The seasonally adjusted purchase index increased 1% from one week earlier. The unadjusted purchase index decreased 4% compared with the previous week and was 9% higher than the same week one year ago.