Mortgage Applications Decline in Week Ending April 3rd 2020

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending April 3rd, 2020, the market composite index, a measure of mortgage loan application volume, decreased 17.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 18% compared with the previous week. The Refinance Index decreased 19% from the previous week, but was 144% higher than the same week one year ago. The unadjusted Purchase Index decreased 12% compared with the previous week and was 33% lower than the same week one year ago.