Mortgage Applications Decline in the Week Ending July 22, 2022, Marking Fourth Drop in a Row

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending July 22, 2022, the Market Composite Index (a measure of mortgage loan application volume) decreased 1.8% 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 and was 83.0% lower than the same week one year ago.

The seasonally adjusted Purchase Index decreased 1.0% from the previous week. The unadjusted Purchase Index decreased 0.4% compared with the previous week and was 18.0% lower than the same week one year ago.

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