In the week ending August 6th, mortgage application volume saw a 2.8% rise according to a report from the Mortgage Bankers Association. The previous week the U.S. Labor Department released a report stating 943,000 new jobs were added in July, the highest month-over-month growth since August 2020. During this period, refinances made up over 68% of total mortgage applications.
- The FHA share of mortgage application volume dropped to 8.9% from 9.0% the previous week.
- The VA shares of mortgage application volume dropped to 9.6% from 9.9% the previous week.
