Mortgage Applications Declined 1% in Week Ending October 20

Washington, DC, October 25, 2023-Mortgage applications decreased 1.0% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 20, 2023. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 1.0% 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 2% from the previous week and was 8% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 2% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 22% lower than the same week one year ago.