Mortgage Applications Declined 1.8% in Week Ending July 2
Washington, DC, July 7, 2021-Mortgage applications decreased 1.8% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending July 2, 2021.
The Market Composite Index, a measure of mortgage loan application volume, decreased 1.8% 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 2% from the previous week and was 8% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index decreased 1% compared with the previous week and was 14% lower than the same week one year ago.