MBA Purchase Applications Up 7% YoY (Refi Applications Down 44% YoY) Despite Gains In Mortgage Credit Availability

Mortgage applications increased 3.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 4, 2017.

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The Refinance Index increased 5 percent from the previous week, but was down 44% on a YoY basis. And refi applications seems to be in a quantum of solace since The Fed started raising their target rate.

The seasonally adjusted Purchase Index increased 1 percent from one week earlier. The unadjusted Purchase Index increased 0.3 percent compared with the previous week and was 7 percent higher than the same week one year ago.

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Despite the rise in mortgage credit availability.

Total MCAI

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