Mortgage Applications Declined 2.6% in Week Ending June 28

Washington, DC, July 3, 2024-Mortgage applications decreased 2.6% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending June 28, 2024. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 2.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 8% compared with the previous week. The Refinance Index decreased 2% from the previous week and was 29% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 3% from one week earlier. The unadjusted Purchase Index increased 7% compared with the previous week and was 12% lower than the same week one year ago.