Mortgage Applications Decline 5.1% in Week Ending February 12, 2021

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending February 12th, 2021, the Market Composite Index — a measure of mortgage loan application volume — decreased -5.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased -4% when compared with the previous week. The Refinance Index decreased -5% from the previous week but was 51% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased -6% from one week earlier. The unadjusted Purchase Index decreased -1% compared with the previous week but was 15% percent higher than the same week one year ago.