According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending September 11th, 2020, which includes the Labor Day holiday, the Market Composite Index, a measure of mortgage loan application volume, decreased -2.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased -13% compared with the previous week. The Refinance Index decreased -4% from the previous week, but was 30% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased -1% from one week earlier. The unadjusted Purchase Index decreased -12% compared with the previous week, but was 6% higher than the same week one year ago.
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Mortgage Applications Decrease in Latest MBA Weekly Survey