Demand for mortgage loans continued to decline last week, remaining at the lowest level in two decades, according to the Mortgage Bankers Association (MBA). 

The market composite index, a measure of mortgage loan application volume, fell 1.2% for the week ending Aug. 19, compared to the previous week. It was also down 63% compared to the same week in 2021.  

The refinance index had a 2.75% decline from the previous week and fell 83% from the same week in 2021. Meanwhile, according to the MBA, the purchase index was down 0.5% from the previous week and decreased 21% from the same details ⇒

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