Mortgage Applications Slid 11.4% in Third Week of February
Washington, DC, February 24, 2021-Mortgage applications decreased 11.4% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending February 19, 2021.
The Market Composite Index, a measure of mortgage loan application volume, decreased 11.4% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 10% compared with the previous week. The Refinance Index decreased 11% from the previous week and was 50% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 12% from one week earlier. The unadjusted Purchase Index decreased 8% compared with the previous week and was 7% higher than the same week one year ago.