Mortgage Applications Declined 0.2% in Week Ending July 5

Washington, DC, July 10, 2024-Mortgage applications decreased 0.2% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 5, 2024.  Last week’s results included an adjustment for the July 4th holiday.

The Market Composite Index, a measure of mortgage loan application volume, decreased 0.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 20% compared with the previous week. The Refinance Index decreased 2% from the previous week and was 28% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 1% from one week earlier. The unadjusted Purchase Index decreased 19% compared with the previous week and was 13% lower than the same week one year ago.