Mortgage Applications Decreased 2.2% in Second Week of March

Washington, DC, March 17, 2021-Mortgage applications decreased 2.2% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 12, 2021. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 2.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 2% compared with the previous week. The Refinance Index decreased 4% from the previous week and was 39% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 2% from one week earlier. The unadjusted Purchase Index increased 3% compared with the previous week and was 5% higher than the same week one year ago.