Mortgage Applications Slid 0.6% in Last Full Week of November
Washington, DC, December 2, 2020-Mortgage applications decreased 0.6% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending November 27, 2020.
This week's results include an adjustment for the Thanksgiving holiday.
The Market Composite Index, a measure of mortgage loan application volume, decreased 0.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 32% compared with the previous week. The Refinance Index decreased 5% from the previous week and was 102% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 9% from one week earlier. The unadjusted Purchase Index decreased 28% compared with the previous week and was 28% higher than the same week one year ago.