Mortgage Applications Decline 1.9% in Week Ending January 15th, 2021

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending January 15th, 2021, the Market Composite Index , a measure of mortgage loan application volume, decreased -1.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased -1% compared with the previous week. The Refinance Index decreased -5% from the previous week but was 87% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 3% from one week earlier. The unadjusted Purchase Index increased 9% compared with the previous week and was 15% higher than the same week one year ago.