Mortgage applications decreased 17% from one week earlier as mortgage rates surged, according to data from the Mortgage Bankers Association’s (MBA) weekly application survey for the week ending October 11, 2024.

The Market Composite Index, a measure of mortgage loan application volume, decreased 17% on both a seasonally adjusted and an unadjusted basis from one week earlier.

The refinance index decreased 26% from the previous week and was 111% higher than the same week one year ago. The seasonally adjusted purchase index decreased 7% from one week earlier and was 7% higher than the same week one year ago.

“Mortgage details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com