Mortgage applications decreased 8.5% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending May 22.

On an unadjusted basis, the index decreased 9% compared with the previous week.

The refinance index slipped again, decreasing 18% from the previous week. It was 19% higher than the same week one year ago.

The seasonally adjusted purchase index decreased 0.4% from one week earlier. The unadjusted purchase index decreased 2% compared with the previous week and was 5% higher than the same week one year ago.

“The 30-year fixed rate has increased details ⇒

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