Mortgage Applications Declined 4% in First Full Week of December
Washington, DC, December 15, 2021-Mortgage applications decreased 4.0% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending December 10, 2021.
The Market Composite Index, a measure of mortgage loan application volume, decreased 4.0% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6% compared with the previous week. The Refinance Index decreased 6% from the previous week and was 41% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 1% from one week earlier. The unadjusted Purchase Index decreased 4% compared with the previous week and was 9% lower than the same week one year ago.