Mortgage Applications Declined 6.7% in Week Ending October 18

Washington, DC, October 23, 2024-Mortgage applications decreased 6.7% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 18, 2024. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 6.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 7% compared with the previous week. The Refinance Index decreased 8% from the previous week and was 90% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 5% from one week earlier. The unadjusted Purchase Index decreased 5% compared with the previous week and was 3% higher than the same week one year ago.