According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending December 4th, 2020, The Market Composite Index, a measure of mortgage loan application volume, decreased -1.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 40% compared with the previous week. The Refinance Index increased 2% from the previous week and was 89% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased -5% from one week earlier. The unadjusted Purchase Index increased 29% compared with the previous week and was 22% higher than the same week one year ago.
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Mortgage Applications Decrease in Latest MBA Weekly Survey