Mortgage applications were on the rise for the week ending March 5, 2017, according to the latest weekly report from the Mortgage Bankers Association (MBA). The total number of applications saw a slight increase of 1.4% on an adjusted basis and 1% on an unadjusted bais from one week earlier.
The Purchase Index had risen 3% and the unadjusted Purchase Index had increased by 3% compared with the previous week and was 6% higher than the same time period last year.
Refinance applications were down slightly to 44.9% from 45.6% the previous week and the refi index decreased 0.4% from one week earlier.
Adjustable-rate mortgages (ARM) increased to 7.2% of total applications.
Applications for FHA loans saw a slight decrease to 10.2% from 10.3% the week prior.
VA loan applications remain unchanged at 10.3%.
The USDA share of total applications had increased slightly to 0.8% from 0.7% the previous week.