WASHINGTON DC – The Mortgage Bankers Association's weekly mortgage applications survey has reported that mortgage applications decreased 2.4% in one week, based on data from the week of August 23.
The Market Composite Index, which measures mortgage loan application volume, decreased 2.4% last week on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Market Composite Index decreased 3% compared to the previous week.
The data suggest that the Refinance Index decreased 4% from the previous week and was 2% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 1% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 16% lower than the same week one year ago.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
