Mortgage Applications Declined by 4.8% in Fourth Week of Sept.
Washington, DC, September 30, 2020-Mortgage applications decreased 4.8% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 25, 2020.
The Market Composite Index, a measure of mortgage loan application volume, decreased 4.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 5% compared with the previous week. The Refinance Index decreased 7% from the previous week and was 52% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 2% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 22% higher than the same week one year ago.