According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending July 15, 2022, the Market Composite Index (a measure of mortgage loan application volume) decreased 6.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 17.0% compared with the previous week.
The Refinance Index decreased 4.0% from the previous week and was 80.0% lower than the same week one year ago.
The seasonally adjusted Purchase Index declined 7.0% from the previous week. The unadjusted Purchase Index increased 16.0% compared with the previous week but was 19.0% lower than the same week one year ago.
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Mortgage Applications Decrease in Latest MBA Weekly Survey