Applications for loans to finance a home purchase ascended to a more than seven year high — leading a week-over-week gain in overall mortgage applications. Government share has thinned over the past year.

The Market Composite Index for the week that concluded on Jan. 19 moved higher by a seasonally adjusted 5 percent compared to the previous week.

Without seasonal adjustments, however, the index — a measure of retail residential loan application volume — decreased 4 percent from the week ended Jan. 12.

Source: Mortgage Daily