Mortgage Applications Rose Almost 5%

The Mortgage Bankers Association (MBA) reports that mortgage applications rose 4.9% last week from one week before, which included the Columbus Day holiday.
On an unadjusted basis, the MBA's Market Composite Index increased 4.8% compared with the previous week. The Refinance Index grew 4.4% from the previous week, while the seasonally adjusted and seasonally unadjusted Purchase Index increased 6.4% and 6.1%, respectively, from the prior week.

The four-week moving average for the seasonally adjusted Market Index is down 3.61%, the MBA says. The four-week moving average is down 0.71% for the seasonally adjusted Purchase Index and 4.41% for the Refinance Index.

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