Mortgage Applications Declined 8.5% in Week Ending January 23

Washington, DC, January 28, 2026-Mortgage applications decreased 8.5% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 23, 2026. This week’s results include an adjustment for the Martin Luther King Jr. Day federal holiday.

The Market Composite Index, a measure of mortgage loan application volume, decreased 8.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 16% compared with the previous week. The Refinance Index decreased 16% from the previous week and was 156% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 0.4% from one week earlier. The unadjusted Purchase Index decreased 4% compared with the previous week and was 18% higher than the same week one year ago.