Mortgage Applications Declined 8.1% in Week Ending February 4
Washington, DC, February 9, 2022-Mortgage applications decreased 8.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending February 4, 2022.
The Market Composite Index, a measure of mortgage loan application volume, decreased 8.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6% compared with the previous week. The Refinance Index decreased 7% from the previous week and was 52% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 10% from one week earlier. The unadjusted Purchase Index decreased 3% compared with the previous week and was 12% lower than the same week one year ago.