Mortgage Applications Fall to Lowest Level Since 1995 in the Week Ending October 13th

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey for the week ending October 13th, the Market Composite Index—a measure of mortgage loan application volume—decreased 6.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 7.0% compared with the previous week.

The Refinance Index fell 10.0% from the previous week and was 12.0% lower than the same week one year ago.

The seasonally adjusted Purchase Index decreased 6.0% from one week earlier. The unadjusted Purchase Index decreased 5.0% compared with the previous week and was 21.0% lower than the same week one year ago.

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