Mortgage Applications Declined 4.1% in Third Week of January
Washington, DC, January 27, 2021-Mortgage applications decreased 4.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending January 22, 2021.
The Market Composite Index, a measure of mortgage loan application volume, decreased 4.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3% compared with the previous week. The Refinance Index decreased 5% from the previous week and was 83% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 4% from one week earlier. The unadjusted Purchase Index increased 3% compared with the previous week and was 16% higher than the same week one year ago.