The Market Composite Index, a measure of mortgage loan application volume, decreased 1.8 percent on a seasonally adjusted basis for the week ending Oct. 9 compared with one week earlier, according to the Mortgage Bankers Association (MBA) Weekly Mortgage Applications Survey. On an unadjusted basis, the Index decreased 1.7 percent for the week ending Oct. 9 compared with the previous week.

The Refinance Index decreased 0.1 percent and the seasonally adjusted Purchase Index decreased 5.0 percent for the week ending Oct. 9 compared with the previous week. The unadjusted Purchase Index decreased 4.8 percent for the week ending Oct. 9 compared with the previous week and declined 6.8 percent compared with the same week one year ago.

The refinance share of mortgage activity increased to 67.4 percent of total applications for the week ending Oct. 9 from 66.3 percent the previous week, according to the report. The adjustable-rate mortgage (ARM) share of activity increased to 6.2 percent for the week ending Oct. 9 from 6.1 percent of total applications from the previous week.

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