Mortgage Applications Declined 14.2% in Week Ending September 30
Washington, DC, October 5, 2022--Mortgage applications decreased 14.2% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 30, 2022.
The Market Composite Index, a measure of mortgage loan application volume, decreased 14.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 14% compared with the previous week. The Refinance Index decreased 18% from the previous week and was 86% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 13% from one week earlier. The unadjusted Purchase Index decreased 13% compared with the previous week and was 37% lower than the same week one year ago.