MBA Mortgage Applications (week ended 2/1/2013)
– Purchase Index – Week/Week +2.0%. Previous was -2.0%
– Refinance Index – Week/Week +4.0%. Previous was -10.0%
– Composite Index – Week/Week +3.4%. Previous was -8.1%.
The Week/Week data is adjusted for the MLK Holiday creating another situation where the question is: are we seeing the data change or is the change induced by inaccuracy in the corrections?