Stubbornly high rates have hindered mortgage demand, but at least it’s better than it was a year ago. Mortgage applications decreased 6.7% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) weekly applications survey for the week ending Oct. 18.

The Market Composite Index, a measure of mortgage loan application volume, decreased 7% on an unadjusted basis. The refinance index decreased 8% from the previous week and was still 90% higher than the same week one year ago (when rates were hovering near 8%). The seasonally adjusted purchase index decreased 5% from details ⇒

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