A slight up tick in weekly mortgage applications was driven by increased refinance activity. Meanwhile, veterans’ share of applications was thinner than it’s been in four months.
On a seasonally adjusted basis, there was a less than 1 percent increase from one week earlier in the Market Composite Index for the seven days ended March 2.
But the index, which is a measure of retail residential loan applications, jumped 13 percent from the week ended Feb. 23 when seasonal factors are ignored.
Source: Mortgage Daily