Mortgage Applications Drop for Fifth Consecutive Week in the Week Ending October 21st
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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 (WMAS), for the week ending October 21, 2022, the Market Composite Index (a measure of mortgage loan application volume) decreased 1.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index declined 2.0% compared with the previous week.
The Refinance Index increased 0.1% from the previous week but was 86.0% lower than the same week one year ago.
The seasonally adjusted Purchase Index decreased 2.0% from the previous week. The unadjusted Purchase Index decreased 3.0% compared with the previous week and was 42.0% lower than the same week one year ago.
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