According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending 21st August 2020, the Market Composite Index, a measure of mortgage loan application volume, decreased -6.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased -7% when compared with the previous week. The Refinance Index decreased -10% from the previous week but was 34% higher when compared with the same week one year ago. The seasonally adjusted Purchase Index increased 0.4% from one week earlier. The unadjusted Purchase Index decreased -2% when compared with the previous week and was 33% higher when compared with the same week one year ago.
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Mortgage Applications Decrease in Latest MBA Weekly Survey