Mortgage Applications Down 2.5% in Third Week of March

Washington, DC, March 24, 2021-Mortgage applications decreased 2.5% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 19, 2021. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 2.5% 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 5% from the previous week and was 13% lower than the same week one year ago. The seasonally adjusted Purchase Index increased 3% from one week earlier. The unadjusted Purchase Index increased 3% compared with the previous week and was 26% higher than the same week one year ago.