Mortgage Applications Decline 0.5% in First Week of November
Washington, DC, November 11, 2020-Mortgage applications decreased 0.5% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending November 6, 2020.
The Market Composite Index, a measure of mortgage loan application volume, decreased 0.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1% compared with the previous week. The Refinance Index increased 1% from the previous week and was 67% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 3% from one week earlier. The unadjusted Purchase Index decreased 5 5% compared with the previous week and was 16% higher than the same week one year ago.