Mortgage Applications Declined 10.8% in Week Ending Nov. 1

Washington, DC, November 6, 2024-Mortgage applications decreased 10.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 1, 2024. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 10.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 12% compared with the previous week. The Refinance Index decreased 19% from the previous week and was 48% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 5% from one week earlier. The unadjusted Purchase Index decreased 7% compared with the previous week and was 2 % higher than the same week one year ago.