Mortgage Applications Declined in the Week Ending June 2nd—The Fourth Consecutive Drop
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Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage Applications Decrease in Latest MBA Weekly Survey
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the ending June 2nd, the Market Composite Index—a measure of mortgage loan application volume—declined 1.4% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 12.0% compared with the previous week.
The Refinance Index dropped 1.0% from the previous week and was 42.0% lower than the same week one year ago.
The seasonally adjusted Purchase Index declined 2.0% from one week earlier. The unadjusted Purchase Index decreased 13.0% compared with the previous week and was 27.0% lower than the same week one year ago.
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