Mortgage Applications Fell By 4.4% Last Week

By Steve
July 8, 2023
3 min read

MBA Says Mortgage Applications Fell By 4.4% Last Week After Weeks Of Several Weeks Of Increases. 

Mortgage Applications FellThe Mortgage Bankers Association says that mortgage applications fell last week to their lowest level in a month. This is after several weeks of increases from various sectors.

The MBA’s Weekly Mortgage Applications Survey for the week ended June 30 showed a decrease of 4.4%. This is based on a seasonally adjusted basis from the previous week. 

Last week’s results included an adjustment for the Juneteenth holiday. Unadjusted, the index increased 6% compared to the previous week.

The Refinance Index decreased 4% from the previous week and was 30% lower than the same week last year.

The seasonally adjusted Purchase Index decreased 5% from a week earlier. The Purchase Index increased 6% from the previous week if unadjusted for the short week. However, it was still 22% lower than the same week one year ago.

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