Mortgage originators completed more weekly applications for loans to finance a home purchase — with a nice year-over-year improvement. But refinances offset the week-over-week gain.

There was no change from the preceding week in the seasonally adjusted Market Composite Index for the seven days that concluded on Nov. 3.

But foregoing seasonal adjustments, the index, which is a measure of retail residential loan applications, slipped 1 percent from the week ended Oct. 27.

Source: Mortgage Daily