Mortgage Applications Drop -0.6% in Week Ending 16th October 2020

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending October 16th, 2020, The Market Composite Index, a measure of mortgage loan application volume, decreased -0.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased -1% compared with the previous week. The Refinance Index increased 0.2% percent from the previous week and was 74% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased -2% from one week earlier. The unadjusted Purchase Index decreased -2% compared with the previous week but was 26% higher than the same week one year ago.