Mortgage Applications Drop in the Week Ending September 23, 2022

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending September 23, 2022, the Market Composite Index (a measure of mortgage loan application volume) decreased 3.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index declined 4.0% compared with the previous week.

The Refinance Index decreased 11.0% from the previous week and was 84.0% lower than the same week one year ago.

The seasonally adjusted Purchase Index decreased 0.4% from the previous week. The unadjusted Purchase Index decreased 1.0% compared with the previous week and was 29.0% lower than the same week one year ago

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