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Purchase Activity Rises, MBA Forecasts More of Same

Purchase Activity Rises, MBA Forecasts More of Same

There was a slight increase in mortgage application volume during the week ended June 14. For a change, it was accounted for by the home purchasing component.   The Mortgage Bankers Association says its Market Composite Index, a measure of loan application volume, increased 0.9 percent on a seasonally adjusted basis although it lost 0.1 percent before adjustment compared with the previous week. The Refinance Index decreased 0.4 percent from the prior week and was 30 percent higher than the same week one year ago. The refinance share of mortgage activity remained unchanged at 35.2 percent of total applications. [refiappschart] Purchase loan applications rose 2.0 percent from one week earlier, its second straight positive performance. The unadjusted Purchase Index decreased
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