Mortgage Applications Declined 5.6% in Week Ending February 23

Washington, DC, February 28, 2024-Mortgage applications decreased 5.6% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 23, 2024. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 5.6% 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 7% from the previous week and was 1% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 5% from one week earlier. The unadjusted Purchase Index decreased 1% compared with the previous week and was 12% lower than the same week one year ago.