Mortgage Applications Declined 0.3% in Second Week of November

Washington, DC, November 18, 2020-Mortgage applications decreased 0.3% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending November 13, 2020. This week's results do not include an adjustment for the Veterans' Day holiday. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 0.3% 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 2% from the previous week and was 98% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 4% from one week earlier. The unadjusted Purchase Index decreased 1% compared with the previous week and was 26% higher than the same week one year ago.