Mortgage Applications Dipped 1.2% in First Week of December
Washington, DC, December 9, 2020-Mortgage applications decreased 1.2% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending December 4, 2020.
The previous week's results included an adjustment for the Thanksgiving holiday.
The Market Composite Index, a measure of mortgage loan application volume, decreased 1.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 40% compared with the previous week. The Refinance Index increased 2% from the previous week and was 89% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 5% from one week earlier. The unadjusted Purchase Index increased 29% compared with the previous week and was 22 % higher than the same week one year ago.