According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending October 14, 2022, the Market Composite Index (a measure of mortgage loan application volume) decreased 4.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index declined 4.0% compared with the previous week.
The Refinance Index decreased 7.0% from the previous week and was 86.0% lower than the same week one year ago.
The seasonally adjusted Purchase Index decreased 4.0% from the previous week. The unadjusted Purchase Index decreased 3.0% compared with the previous week and was 38.0% lower than the same week one year ago.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.