Mortgage Application Declined 0.8% in Week Ending August 11

Washington, DC, August 16, 2023-Mortgage applications decreased 0.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 11, 2023. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 0.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 2% compared with the previous week. The Refinance Index decreased 2% from the previous week and was 35% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 0.2% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 26% lower than the same week one year ago.