Mortgage Applications Drop to Lowest Level Since 2000 in the Week Ending August 17, 2022

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending August 17, 2022, the Market Composite Index (a measure of mortgage loan application volume) decreased 2.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index declined 3.0% compared with the previous week.

The Refinance Index declined 5.0% from the previous week and was 82.0% lower than the same week one year ago.

The seasonally adjusted Purchase Index decreased 1.0% from the previous week. The unadjusted Purchase Index decreased 2.0% compared with the previous week and was 18.0% lower than the same week one year ago.

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Original Source:
Mortgage Applications Decrease in Latest MBA Weekly Survey