Mortgage Applications Declined 6.0% in Week Ending September 29
Washington, DC, October 4, 2023-Mortgage applications decreased 6.0% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 29, 2023.
The Market Composite Index, a measure of mortgage loan application volume, decreased 6.0% 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 7% from the previous week and was 11% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 6% from one week earlier. The unadjusted Purchase Index decreased 6% compared with the previous week and was 22% lower than the same week one year ago.