Mortgage Applications Recover from Holiday.

MBA Mortgage Applications (week ended 6/5/2015)

– Purchase Index Week/Week +10.0%. Previous weeks were  -3.0%, +1.0%, -4.0%, -0.2%, +1.0%, +0.0%, +5.0%, -3.0%, +7.0%, +6.0%, +5.0%, -2.0%, and +2.0%.

– Refinance Index Week/Week +7.0%. Previous weeks were -12.0%, -4.0%, +0.3%, -6.0%, -8.0%, -4.0%, +1.0%, -2.0%, -3.0%, +4.0%., +12.0%, and -5.0%.

– Composite Index Week/Week +8.4%. Previous weeks were -7.6%, -1.6%, -1.5%, -3.5%, -4.6%, -2.3%, +2.3%, -2.3%., +0.4%, +4.6%, +9.5%, -3.9%, and -1.3%.

I don’t believe that this data says anything other than that the previous week contained Memorial Day.