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Mortgage Application Volume Returns to Downhill Track

Wednesday, May 15, 2019

One week after posting the first positive results in five weeks, mortgage application activity fell off again.  The Mortgage Bankers Association (MBA) said today that its Market Composite Index, a measure of application volume, decreased 0.6 percent on a seasonally adjusted basis during the week ended May 11.  On an unadjusted basis the decline was 1.0 percent. Both the adjusted and unadjusted Purchase Indices dipped 1.0 percent from the previous week.  The unadjusted index was 7.0 percent higher than during the same week in 2018.

 

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