According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending February 14th, 2020, the Market Composite Index, a measure of mortgage loan applications volume, decreased 6.4% on a SAAR from one week earlier. On an unadjusted basis, the Index decreased 5% compared with the previous week. The Refinance Index decreased 8% from the previous week and was 165% higher than the same week one year ago. The unadjusted Purchase Index decreased 3% compared with the previous week and was 16% higher than the same week one year ago.
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Mortgage Applications Decrease in Latest MBA Weekly Survey