Mortgage Applications Declined 5.1% in Week Ending October 4

Washington, DC, October 9, 2024-Mortgage applications decreased 5.1% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 4, 2024. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 5.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 5% compared with the previous week. The Refinance Index decreased 9% from the previous week and was 159% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 0.1% from one week earlier. The unadjusted Purchase Index increased 0.1% compared with the previous week and was 8% higher than the same week one year ago.