Mortgage Applications Slid 3.3% in Last Week of October
Washington, DC, November 3, 2021-Mortgage applications decreased 3.3% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 29, 2021.
The Market Composite Index, a measure of mortgage loan application volume, decreased 3.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4% compared with the previous week. The Refinance Index decreased 4% from the previous week and was 33% lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 2% from one week earlier. The unadjusted Purchase Index decreased 3% compared with the previous week and was 9% lower than the same week one year ago.