Mortgage Applications Declined 0.8% in Week Ending November 25
Washington, DC, November 30, 2022-Mortgage applications decreased 0.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 25, 2022.
This week’s results include an adjustment for the observance of the Thanksgiving holiday.
The Market Composite Index, a measure of mortgage loan application volume, decreased 0.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 33% compared with the previous week. The Refinance Index decreased 13% from the previous week and was 86% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 4% from one week earlier. The unadjusted Purchase Index decreased 31% compared with the previous week and was 41% lower than the same week one year ago.