Mortgage Applications Declined 8.8% in Week Ending April 14

Washington, DC, April 19, 2023-Mortgage applications decreased 8.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 14, 2023. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 8.8% 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 6% from the previous week and was 56% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 10% from one week earlier. The unadjusted Purchase Index decreased 9% compared with the previous week and was 36% lower than the same week one year ago.