Mortgage applications increased 8.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 16, 2021.
The Refinance Index increased 10 percent from the previous week and was 23 percent lower than the same week one year ago. Why? The 30Y mortgage rate declined.
The seasonally adjusted Purchase Index increased 6 percent from one week earlier. The unadjusted Purchase Index increased 7 percent compared with the previous week and was 57 percent higher than the same week one year ago.