Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of
mortgage loan application volume, fell again during the week ended May 28. It
was the 15th time the index has retreated in the 21 weeks since the year
began. The Index decreased 4.0 percent on a seasonally adjusted basis from one
week earlier. On an unadjusted basis, the Index decreased 5 percent compared
with the previous week. The Refinance
Index dropped 5 percent
from the previous week and was 6 percent higher than
the same week in 2020 which was a holiday week. The refinance share of mortgage
activity decreased to 61.3 percent of total applications from 61.4 percent the
previous week.  


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