Mortgage Applications Declined 13.2% in Week Ending Dec. 30
Washington, DC, January 4, 2023-Mortgage applications decreased 13.2% from two weeks earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 30, 2022. The results include adjustments to account for the holidays.
The Market Composite Index, a measure of mortgage loan application volume, decreased 13.2% on a seasonally adjusted basis from two weeks earlier. On an unadjusted basis, the Index decreased 39.4% compared with the two weeks ago. The holiday adjusted Refinance Index decreased 16.3% from the two weeks ago and was 87% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 12.2% from two weeks earlier. The unadjusted Purchase Index decreased 38.5% compared with the two weeks ago and was 42% lower than the same week one year ago.