Mortgage Applications Decreased 1.3% in First Week of March
Washington, DC, March 10, 2021-Mortgage applications decreased 1.3% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 5, 2021.
The Market Composite Index, a measure of mortgage loan application volume, decreased 1.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1% compared with the previous week. The Refinance Index decreased 5% from the previous week and was 43% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 7% from one week earlier. The unadjusted Purchase Index increased 9% compared with the previous week and was 2% higher than the same week one year ago.