According to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Friday, February 14, the Market Composite Index—a measure of mortgage loan application volume—decreased 6.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4.0% compared with the previous week.

The Refinance Index decreased 7.0% from the previous week but was 39.0% higher than the same week one year ago.

The seasonally adjusted Purchase Index decreased 6.0% from one week earlier. The unadjusted Purchase Index decreased 1.0% compared with the previous week but was 7.0% higher than the same week one year ago.

 

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US Mortgage Applications Decline in the Week Ending February 14