According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending 20th March 2020, the Market Composite Index, a measure of mortgage loan application volume, decreased 29.4% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 29% when compared to the previous week. The Refinance Index decreased 34% from the previous week, but was 195% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 15% from one week earlier. The unadjusted Purchase Index decreased 14% compared with the previous week and was 11% lower than the same week one year ago.
Mortgage Applications Decrease in Latest MBA Weekly Survey