Mortgage Applications Declined 13.3% in Week Ending February 17
Washington, DC, February 22, 2023-Mortgage applications decreased 13.3% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 17, 2023.
The Market Composite Index, a measure of mortgage loan application volume, decreased 13.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4% compared with the previous week. The Refinance Index decreased 2% from the previous week and was 72% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 18% from one week earlier. The unadjusted Purchase Index decreased 4% compared with the previous week and was 41% lower than the same week one year ago.