Mortgage Applications Fell 2.5% in Second Week of September

Washington, DC, September 16, 2020-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 September 11, 2020. 

This week's results include an adjustment for the Labor Day holiday. 

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 13% compared with the previous week. The Refinance Index decreased 4% from the previous week and was 30% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index decreased 12% compared with the previous week and was 6% higher than the same week one year ago.