Mortgage Applications Declined 1.2% in Week Ending May 20
Washington, DC, May 25, 2022-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 May 20, 2022.
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 2% compared with the previous week. The Refinance Index decreased 4% from the previous week and was 75% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 0% from one week earlier. The unadjusted Purchase Index decreased 1% compared with the previous week and was 16% lower than the same week one year ago.