Mortgage Applications Decline 4.5% in Week Ending October 14
Washington, DC, October 19, 2022-Mortgage applications decreased 4.5% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 14, 2022.
The Market Composite Index, a measure of mortgage loan application volume, decreased 4.5% 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 7% from the previous week and was 86% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 4% from one week earlier. The unadjusted Purchase Index decreased 3% compared with the previous week and was 38% lower than the same week one year ago.