The Market Composite Index, a measure of mortgage loan application volume, decreased 0.7% on a seasonally adjusted basis from one week earlier, according to data from the Mortgage Bankers Association‘s (MBA) Weekly Mortgage Applications Survey for the week ending February 25, 2022.
On an unadjusted basis, the index increased 1% compared with the previous week. The Refinance Index increased 1% from the previous week and was 56% lower than the same week one year