Mortgage Applications Slid 4.0% in Last Week of May
Washington, DC, June 2, 2021-Mortgage applications decreased 4.0% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending May 28, 2021.
This week's year-over-year results are being compared to the week of Memorial Day 2020.
The Market Composite Index, a measure of mortgage loan application volume, decreased 4.0% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 5% compared with the previous week. The Refinance Index decreased 5% from the previous week and was 6% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 3% from one week earlier. The unadjusted Purchase Index decreased 5% compared with the previous week and was 2% lower than the same week one year ago.