Mortgage Applications Declined 1.2% in Week Ending April 28

Washington, DC, May 3, 2023-Mortgage applications decreased 1.2% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 28, 2023. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 1.2% 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 increased 1% from the previous week and was 51% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 2% from one week earlier.