Mortgage Applications Decline in Week Ending November 25th
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 November 25, 2022, the Market Composite Index (a measure of mortgage loan application volume) decreased 0.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 33.0% compared with the previous week. Last week’s results include an adjustment for the Thanksgiving holiday.
The Refinance Index declined 13.0% from the previous week and was 86.0% lower than the same week one year ago.
The seasonally adjusted Purchase Index increased 4.0% from the previous week. The unadjusted Purchase Index decreased 31.0% compared with the previous week and was 41.0% lower than the same week one year ago.
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