Mortgage Applications Declined in the Week Ending January 27th

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the ending January 27, 2023, the Market Composite Index (a measure of mortgage loan application volume) declined 9.0% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 6.0% compared with the previous week.

The Refinance Index fell 7.0% from the previous week and was 80.0% lower than the same week one year ago.

The seasonally adjusted Purchase Index dropped 10.0% from one week earlier. The unadjusted Purchase Index increased 7.0% compared with the previous week but was 41.0% lower than the same week one year ago.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.