Mortgage Applications Declined 8.3% in Week Ending April 22

Washington, DC, April 27, 2022-Mortgage applications decreased 8.3% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 22, 2022. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 8.3% 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 9% from the previous week and was 71% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 8% from one week earlier. The unadjusted Purchase Index decreased 7% compared with the previous week and was 17% lower than the same week one year ago.