Mortgage Applications Decline for Seventh Consecutive Week
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Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage Applications Decrease in Latest MBA Weekly Survey
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending November 4, 2022, the Market Composite Index—a measure of mortgage loan application volume—decreased 0.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index declined 2.0% compared with the previous week.
The Refinance Index decreased 4.0% from the previous week but was 87.0% lower than the same week one year ago.
The seasonally adjusted Purchase Index increased 1.0% from the previous week. The unadjusted Purchase Index decreased 1.0% compared with the previous week and was 41.0% lower than the same week one year ago.
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