Mortgage Applications Declined 2.7% in Last Week of December
Washington, DC, January 5, 2022-Mortgage applications decreased 2.7% from two weeks earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending December 31, 2021. The results include adjustments to account for the holidays.
The Market Composite Index, a measure of mortgage loan application volume, decreased 2.7% on a seasonally adjusted basis from two weeks earlier. On an unadjusted basis, the Index decreased 32% compared with the two weeks ago. The holiday adjusted Refinance Index decreased 2% from the two weeks ago and was 40% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 4% from two weeks earlier. The unadjusted Purchase Index decreased 32% compared with the two weeks ago and was 12% lower than the same week one year ago.