Mortgage Applications Declined in the Week Ending January 27th

Posted on February 1, 2023

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.

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