For the week ending November 5th, mortgage application volume saw a 5.5% increase according to a Mortgage Bankers Association report. Refinances particularly saw a 7% increase in application volume despite being 28% lower than this time last year. New purchase application volume also rose 3% this past week.
- The FHA share of total mortgage application volume increased from 9.9% to 10.2%.
- The VA share of total mortgage application volume decreased from 9.2% to 8.8%.
