Mortgage Applications Slid 4.1% in First Week of February
Washington, DC, February 10, 2021-Mortgage applications decreased 4.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending February 5, 2021.
The Market Composite Index, a measure of mortgage loan application volume, decreased 4.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3% compared with the previous week. The Refinance Index decreased 4% from the previous week and was 46% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 5% from one week earlier. The unadjusted Purchase Index increased 2% compared with the previous week and was 17% higher than the same week one year ago.