Mortgage Applications Declined 2.8% in Second Week of November

Washington, DC, November 17, 2021-Mortgage applications decreased 2.8% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending November 12, 2021. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 2.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4% compared with the previous week. The Refinance Index decreased 5% from the previous week and was 31% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 2% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 6% lower than the same week one year ago.