Mortgage Applications Dip in Mid-November

According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending November 9, 2018, U.S. mortgage applications decreased 3.2 percent from one week earlier.
The Market Composite Index, a measure of mortgage loan application volume, decreased 3.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased five percent compared with the previous week. The Refinance Index decreased 4.3 percent from the previous week reaching its lowest level since December 2000. The seasonally adjusted Purchase Index decreased 2.3 percent from one week earlier reaching its lowest level since February 2017. The unadjusted Purchase Index decreased 5 percent compared with the previous week and was 3 percent lower than the same week one year ago.