Mortgage Applications Declined 0.7% in Week Ending March 22

Washington, DC, March 27, 2024-Mortgage applications decreased 0.7% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 22, 2024. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 0.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 0.4% compared with the previous week. The Refinance Index decreased 2% from the previous week and was 9% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 0.2% from one week earlier. The unadjusted Purchase Index increased 0.2% compared with the previous week and was 16% lower than the same week one year ago.