Mortgage Applications Declined 7.1% in Third Week of January
Washington, DC, January 26, 2022-Mortgage applications decreased 7.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending January 21, 2022.
The Market Composite Index, a measure of mortgage loan application volume, decreased 7.1% 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 13% from the previous week and was 53% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 25 from one week earlier. The unadjusted Purchase Index increased 5% compared with the previous week and was 11% lower than the same week one year ago.