Home mortgage application volume dipped 1.9% this past week after jumping 16.7% week-over-week the period prior. This dip was paced by a 5% drop in refinance activity. Despite last weeks slight drop, as the start to 2021 continues, we should see strong mortgage application numbers for both first time and repeat home buyers.
- FHA’s share of mortgage application volume decreased to 9.3% of total application volume this past week.
- VA’s share of mortgage application volume increased to 15.8% of total application volume during the same period.
