Mortgage Applications Declined 2.3% in Week Ending April 26
Washington, DC, May 1, 2024-Mortgage applications decreased 2.3% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 26, 2024.
The Market Composite Index, a measure of mortgage loan application volume, decreased 2.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1.4% compared with the previous week. The Refinance Index decreased 3% from the previous week and was 1% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 2% 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.