Mortgage Applications Declined 4.2% in Third Week of May
Washington, DC, May 26, 2021-Mortgage applications decreased 4.2% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending May 21, 2021.
The Market Composite Index, a measure of mortgage loan application volume, decreased 4.2% 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 7% from the previous week and was 9% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 2% from one week earlier. The unadjusted Purchase Index increased 1% compared with the previous week and was 4% lower than the same week one year ago.