Mortgage Applications Declined 0.5% in Week Ending October 28

Washington, DC, November 2, 2022-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 October 28, 2022. 

This week’s results include revised data to reflect an update to last week’s survey results.  

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 0.2% from the previous week and was 85% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 41% lower than the same week one year ago.