Mortgage Applications Declined 1.7% in Week Ending October 21
Washington, DC, October 26, 2022-Mortgage applications decreased 1.7% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 21, 2022.
“The Market Composite Index, a measure of mortgage loan application volume, decreased 1.7% 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 increased 0.1% from the previous week and was 86% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 2% from one week earlier. The unadjusted Purchase Index decreased 3% compared with the previous week and was 42% lower than the same week one year ago.