The Market Composite Index of mortgage loan applications, a measure of mortgage loan applications for purchases and refinancings, increased by 4.4 percent to 780.9 on a seasonally adjusted basis for the week ending April 30
from 748.0 one week earlier, according to a report released today by the Mortgage Bankers Association (MBA). On an unadjusted basis, the Index increased by 4.8 percent for the week ending April 30 compared with the previous week and was down 35.3 percent compared with the same week one year earlier.
The refinance share of mortgage activity remained unchanged at 44.0 percent of total applications for the week ending April 30. The adjustable-rate mortgage (ARM) share of activity decreased to 32.1 percent of total applications for the week ending April 30 compared to 32.7 percent the previous week, according to the report.