Mortgage applications increased 1.7% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending May 8.

On an unadjusted basis, the index increased 2% compared with the previous week.

The refinance index decreased 1% from the previous week and was 28% higher than the same week one year ago.

The seasonally adjusted purchase index increased 4% from one week earlier. The unadjusted purchase index increased 4% compared with the previous week and was 7% higher than the same week one year ago.

“Mortgage rates were generally higher last week, details ⇒

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