New weekly applications for home loans increased, and the escalation in activity was due to an increase in home purchase financing. Government share was the widest it’s been in five weeks.
In the week that ended on Feb. 23, the Market Composite Index, a measure of retail residential loan application volume, rose a seasonally adjusted 3 percent from a week earlier.
But when seasonal factors are set aside, the index moved lower by 6 percent when compared to the seven days that finished up on Feb. 16.
Source: Mortgage Daily