Mortgage Applications Decline in Week Ending March 27th 2020

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending March 27th 2020, the Market Composite Index, a measure of mortgage loan application volume, increased 15.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 15% when compared to the previous week. The Refinance Index increased 26% from the previous week, and was 168% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 11% from one week earlier. The unadjusted Purchase Index decreased 10% compared with the previous week and was 24% lower than the same week one year ago.