According to the most recent survey from the Mortgage Bankers Assocation, new mortgage application numbers have decreased 6.3% for the week ending July 15th. This marks the third week in a row that new mortgage applications have dropped. The demand for refinances specifically has reached a 22-year low making up only 31.4% of total applications.
- The FHA share of total application volume increased from 11.7% to 12.4% this past week.
- The VA share of total application volume decreased from 11.2% to 10.6% this past week.
