Mortgage Applications Declined 8.1% in Week Ending March 18
Washington, DC, March 23, 2022-Mortgage applications decreased 8.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 18, 2022.
The Market Composite Index, a measure of mortgage loan application volume, decreased 8.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 8% compared with the previous week. The Refinance Index decreased 14% from the previous week and was 54% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 2% from one week earlier. The unadjusted Purchase Index decreased 1% compared with the previous week and was 12% lower than the same week one year ago.