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【World Property Journal】U.S. Mortgage Applications Dip in Mid-May

【World Property Journal】U.S. Mortgage Applications Dip in Mid-May

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According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending May 20, 2022, U.S. mortgage applications decreased 1.2 percent from one week earlier.

The Market Composite Index, a measure of mortgage loan application volume, decreased 1.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 2 percent compared with the previous week. The Refinance Index decreased 4 percent from the previous week and was 75 percent lower than the same week one year ago. The seasonally adjusted Purchase Index increased 0.2 percent from one week earlier. The unadjusted Purchase Index decreased 1 percent compared with the previous week and was 16 percent lower than the same week one year ago.

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