Mortgage Applications Down 17% in Week Ending October 11

Washington, DC, October 16, 2024-Mortgage applications decreased 17.0% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 11, 2024. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 17.0% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 17% compared with the previous week. The Refinance Index decreased 26% from the previous week and was 111% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 7% from one week earlier. The unadjusted Purchase Index decreased 7% compared with the previous week and was 7% higher than the same week one year ago.