Mortgage Applications Drop 9.2% for the Week Ending November 29th

According to information released in the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 29, 2019, mortgage applications declined by 9.2% when compared to the previous week. The results include an adjustment for the Thanksgiving holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 9.2% on a seasonally adjusted basis from the previous week. On an unadjusted basis, the Index decreased 38% when compared with the previous week. The Refinance Index decreased 16% from the previous week, but was 61% higher than the same week one year ago