Mortgage Applications Declined 3.9% in Second Week of August
Washington, DC, August 18, 2021-Mortgage applications decreased 3.9% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending August 13, 2021.
The Market Composite Index, a measure of mortgage loan application volume, decreased 3.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4% compared with the previous week. The Refinance Index decreased 5% from the previous week and was 8% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 19% lower than the same week one year ago.