Mortgage Applications Declined 0.1% in Week Ending Nov. 4
Washington, DC, November 9, 2022-Mortgage applications decreased 0.1% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 4, 2022.
The Market Composite Index, a measure of mortgage loan application volume, decreased 0.1% 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 4% from the previous week and was 87% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 1% from one week earlier. The unadjusted Purchase Index decreased 1% compared with the previous week and was 41% lower than the same week one year ago.