According to the Mortgage Bankers Association mortgage applications increased by 2.3% on a seasonally adjusted 
basis for the week from the previous week. This bodes well for the upcoming spring buying season, reflecting that there will be significant buying interest this coming spring 2017.
On a comparative basis, when matched with 2016 applications, the total number of mortgage applications has fallen by 23% which is attributed to the significant drop in refinancings, reflecting the pool of potential refinancers has contracted.
Overall Stats
■ Mortgage applications to purchase a home rose by 2% from the prior week.
■ Mortgage applications to purchase a home are 3.6% higher than in 2016.
■ Buyer demand has been increasing steadily.
■ The inventory of homes for sale remains historically low.
■ Buyers appear to be competitively positioned.