Mortgage Applications Fell 0.2% Last Week
Washington, DC, April 25, 2018-Mortgage applications decreased 0.2% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending April 20.
The Market Composite Index, a measure of mortgage loan application volume, decreased 0.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1% compared with the previous week. The Refinance Index decreased 0.3% from the previous week. The seasonally adjusted Purchase Index was unchanged from one week earlier. The unadjusted Purchase Index increased 1% compared with the previous week and was 11% higher than the same week one year ago.
The refinance share of mortgage activity decreased to 37.2% of total applications, the lowest level since September 2008, from 37.6% the previous week. The adjustable-rate mortgage share of activity decreased to 6.5% of total applications.