The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending June 6, which shows the Market Composite Index—a tool that measures loan activity volume—increasing 10.9-percent from 502.3 to 557.1. The same report says the Index on an unadjusted basis increased 23-percent in the latest survey, but remained 16.5-percent lower than the Index recorded for the same week last year.

The MBA survey also noticed a slight upswing in the number of homeowners filling out refinancing applications.

“The Refinance Index increased 8.4-percent to 1622.1 from 1496.1 the previous week and the seasonally-adjusted Purchase Index increased 12.8-percent to 376.2 from 333.6 one week earlier,” the MBA said. “The Conventional Purchase Index increased 11-percent while the Government Purchase Index (largely FHA) increased 17-percent.”

Below are more statistics from the latest MBA Weekly Mortgage Applications Survey:

Four-week moving average on the seasonally-adjusted Market Index fell 2.8-percent to 568.6 from 597.9

Four-week moving average is up 1.7-percent to 353.8 from 354.3 for the Purchase Index.

Adjustable-rate mortgage (ARM) share of activity increased to 10.3 from 8.7-percent of total applications the week prior.

30-year fixed-rate mortgages jumped to 6.24-percent from 6.17-percent

15-year fixed-rate mortgages increased to 5.78-percent from 5.7-percent

One-year ARMs increased to 6.87-percent from 6.8-percent .Kerri Panchuk | 06.11.08