Mortgage Applications Declined 6.9% in Week Ending October 13
Washington, DC, October 18, 2023-Mortgage applications decreased 6.9% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 13, 2023.
The Market Composite Index, a measure of mortgage loan application volume, decreased 6.9% 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 10% from the previous week and was 12% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 6% from one week earlier. The unadjusted Purchase Index decreased 5% compared with the previous week and was 21% lower than the same week one year ago.