Mortgage applications and refinance activity ticked upward, according to data from the Mortgage Bankers Association's (MBA) weekly mortgage applications survey for the week ending March 22.
The MBA's market composite index increased 7.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index increased 8% compared with the previous week.Â
The refinance index increased 8% from the previous week. However, the refinance share of mortgage activity remained unchanged at 75% of total applications.Â
The seasonally adjusted purchase index increased 7% from one week earlier. The unadjusted purchase index increased 7% compared with the previous week and was 10% higher than the same week one year ago.