Mortgage applications decreased 8.9% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending Jan. 30. Last week’s results included an adjustment for the Martin Luther King Jr. holiday.

On an unadjusted basis, the index increased 4% compared with the previous week.

The seasonally adjusted purchase index decreased 14% from one week earlier, while the unadjusted purchase index increased 2% compared with the previous week and was 4% higher than the same week one year ago.

“Application volume was down last week, led by a 14% drop in purchase details ⇒

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