Mortgage Applications Declined 1.9% in Week Ending December 2
Washington, DC, December 7, 2022-Mortgage applications decreased 1.9% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 2, 2022.
Last week’s results include an adjustment for the observance of the Thanksgiving holiday.
The Market Composite Index, a measure of mortgage loan application volume, decreased 1.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 36% compared with the previous week. The Refinance Index increased 5% from the previous week and was 86% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 3% from one week earlier. The unadjusted Purchase Index increased 31% compared with the previous week and was 40% lower than the same week one year ago.