Mortgage applications decreased 1.8% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) weekly mortgage applications survey for the week ending Aug. 3.
The MBA's market composite index decreased 1.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index decreased 2% compared with the previous week.Â
The refinance index decreased 2% from the previous week. The refinance share of mortgage activity was unchanged from last week at 81% of total applications.Â
The seasonally adjusted purchase index decreased 1% from a week earlier. The unadjusted purchase index decreased 2% compared with the previous week and was 12% lower than the same week one year ago.