Mortgage Applications Decline in Week Ending December 2nd
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 December 2, 2022, the Market Composite Index (a measure of mortgage loan application volume) decreased 1.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 36.0% compared with the previous week. Last week’s results also include an adjustment for the Thanksgiving holiday.
The Refinance Index increased 5.0% from the previous week but was 86.0% lower than the same week one year ago.
The seasonally adjusted Purchase Index decreased 3.0% from the previous week. The unadjusted Purchase Index increased 31.0% compared with the previous week but was 40.0% lower than the same week one year ago.
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