{"id":70118,"date":"2025-02-05T19:29:56","date_gmt":"2025-02-05T19:29:56","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/mortgage-applications-increase-marginally-in-january\/"},"modified":"2025-02-05T19:29:56","modified_gmt":"2025-02-05T19:29:56","slug":"mortgage-applications-increase-marginally-in-january","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=70118","title":{"rendered":"Mortgage Applications Increase Marginally in January"},"content":{"rendered":"


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The Market Composite Index, a measure of mortgage loan application volume from the Mortgage Bankers Association\u2019s (MBA) weekly survey<\/a>, increased by 3.1% month-over-month on a seasonally adjusted (SA) basis, primarily driven by purchasing activity. Compared to January last year, the index is higher by 3.4%. The Market Composite Index which includes the Purchase and Refinance Indices: purchasing experienced a monthly gain of 3.8%, while refinancing decreased 2.3% (SA). On a year-over-year basis, however, the Purchase Index is lower by 3.4%, while the Refinance Index remains higher at 18.6%.<\/p>\n

The average 30-year fixed rate mortgage reported in the MBA survey for January ticked up 20 basis points (bps) to 7.02% (index level 702). This rate is 24 basis points higher than the same period last year.<\/p>\n