According to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Friday, March 14, the Market Composite Index—a measure of mortgage loan application volume—decreased 6.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6.0% compared with the previous week.

The Refinance Index decreased 13.0% from the previous week but was 70.0% higher than the same week one year ago.

 

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US Mortgage Applications Decline in the Week Ending March 14