Mortgage Applications Declined 9.4% in Week Ending December 29

Washington, DC, January 3, 2024-Mortgage applications decreased 9.4% from two weeks earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 29, 2023. The results include adjustments to account for the holidays.

The Market Composite Index, a measure of mortgage loan application volume, decreased 9.4% on a seasonally adjusted basis from two weeks earlier. On an unadjusted basis, the Index decreased 38% compared with two weeks ago. The holiday adjusted Refinance Index decreased 18% from two weeks ago and the unadjusted Refinance Index decreased 43% from two weeks ago; both measures were 15% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 5% compared with two weeks ago. The unadjusted Purchase Index decreased 34% compared with two weeks ago and was 12% lower than the same week one year ago.