Mortgage applications decreased 2.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) weekly mortgage applications survey for the week ending July 6. The week's results include an adjustment for the Independence Day holiday.
The MBA's market composite index decreased 2.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index decreased 22% compared with the previous week.Â
The refinance index decreased 3% from the previous week. The refinance share of mortgage activity decreased to 77% of total applications from the previous week.
The seasonally adjusted purchase index increased 3% from one week earlier. The unadjusted purchase index decreased 17% compared with the previous week and was 3% lower than the same week one year ago.