Mortgage Applications Declined 10.6% in Week Ending February 16

Washington, DC, February 21, 2024-Mortgage applications decreased 10.6% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 16, 2024. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 10.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 8% compared with the previous week. The Refinance Index decreased 11% from the previous week and was 0.1% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 10% from one week earlier. The unadjusted Purchase Index decreased 6% compared with the previous week and was 13% lower than the same week one year ago.