Mortgage Applications Slid 6.5% in Third Week of August
Washington, DC, August 26, 2020-Mortgage applications decreased 6.5% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending August 21, 2020.
The Market Composite Index, a measure of mortgage loan application volume, decreased 6.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 7% compared with the previous week. The Refinance Index decreased 10% from the previous week and was 34% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 0.4% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 33% higher than the same week one year ago.