Mortgage Applications Drop -0.7% in Week Ending October 9th, 2020

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending October 9th, 2020, mortgage applications decreased 0.7% from the previous week. On an unadjusted basis, the Index decreased -1% compared with the previous week. The Refinance Index decreased -0.3% from the previous week but was 44% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased -2% from one week earlier. The unadjusted Purchase Index decreased -1% compared with the previous week but was 24% higher than the same week one year ago.