Mortgage Applications Slump in the Week Ending September 1st

Posted on September 6, 2023

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey for the week ending September 1st, the Market Composite Index—a measure of mortgage loan application volume—declined 2.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 5.0% compared with the previous week.

The Refinance Index declined 5.0% from the previous week and was 30.0% lower than the same week one year ago.

The seasonally adjusted Purchase Index declined 2.0% from one week earlier. The unadjusted Purchase Index decreased 5.0% compared with the previous week and was 28.0% lower than the same week one year ago.

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