Mortgage Applications Drop in the Week Ending February 14th, 2020

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.