The Market Composite Index, a measure of mortgage loan application volume, increased 1.5% to 639.8 on a seasonally adjusted basis for the week ending Feb. 9 compared with 630.1 one week earlier, according to a report released by the Mortgage Bankers Association. On an unadjusted basis, the Index increased 4.5% for the week ending Feb. 9 compared with the previous week and was up 10.9% compared with the same week one year earlier.

The refinance share of mortgage activity remained unchanged at 46.1% of total applications for the week ending Feb. 9. The adjustable-rate mortgage (ARM) share of activity decreased to 21.2 for the week ending Feb. 9 from 22.3% of total applications from the previous week.