Loan originators were busier taking applications for new mortgages last week. Both purchase financing and refinancing activity accelerated.

A seasonally adjusted 2 percent increase from the previous seven-day period was recorded for the Market Composite Index for the week ended May 5, 2017.

The index, which is a  measure of retail residential loan application volume, moved up 3 percent without seasonal adjustments compared to the preceding week.

Source: Mortgage Daily