Mortgage Applications Declined 21.9% in Week Ending December 27

Washington, DC, January 2, 2025-Mortgage applications decreased 21.9% from two weeks earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 27, 2024. The results include an adjustment to account for the Christmas holiday.

The Market Composite Index, a measure of mortgage loan application volume, decreased 21.9% on a seasonally adjusted basis from two weeks earlier. On an unadjusted basis, the Index decreased 55% compared with two weeks ago. The holiday adjusted Refinance Index decreased 36% from two weeks ago and was 10% higher than the same week one year ago. The unadjusted Refinance Index decreased 62% from two weeks ago and was 6% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 13% compared with two weeks ago. The unadjusted Purchase Index decreased 48% compared with two weeks ago and was 17% lower than the same week one year ago.