Mortage Applications Declined 10.1% in Week Ending August 16

Washington, DC, August 22, 2024-Mortgage applications decreased 10.1% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 16, 2024. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 10.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 11% compared with the previous week. The Refinance Index decreased 15% from the previous week and was 90% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 5% from one week earlier. The unadjusted Purchase Index decreased 7% compared with the previous week and was 8% lower than the same week one year ago.