Mortgage Applications Declined 6.4% in Week Ending July 15
Washington, DC, July 20, 2022-Mortgage applications decreased 6.3% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 15, 2022.
The Market Composite Index, a measure of mortgage loan application volume, decreased 6.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 17% compared with the previous week. The Refinance Index decreased 4% from the previous week and was 80% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 7% from one week earlier. The unadjusted Purchase Index increased 16% compared with the previous week and was 19% lower than the same week one year ago.