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.
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Mortgage Applications Decrease in Latest MBA Weekly Survey