MBA Mortgage Purchase Applications Decline 35% YoY

Mortgage applications increased 7.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 10, 2020.

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The Refinance Index increased 10 percent from the previous week and was 192 percent higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 2 percent from one week earlier. The unadjusted Purchase Index decreased 1 percent compared with the previous week and was 35 percent lower than the same week one year ago.

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On the bright side, most of the decline in purchase application occurred before last week.

So, it appears that no more snake juice is required.

snakejuice

Courtesy of the great Jesse from Jesse’s Cafe Americain!

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