Mortgage Applications Numbers Continue to Fall
During the period ending April 8th, mortgage application volume fell 1.3% according to a weekly survey from the Mortgage Bankers Association. Refinance application volume fell 5% from the previous week and 62% year-over-year. Almost four months into 2022, mortgage rates are up 1.5% causing refinance volume to drop drastically. Rates continuing to rise could cause further decreasing mortgage application volume as the year continues. The FHA share of mortgage applications increased to 9.5% from 9.2% of total application volume last week. The VA share of mortgage applications increased to 9.9% from 9.8% of total application volume last...New Mortgage Interest Declines
The application volume for residential mortgages fell 6.8% for the period ending March 25th according to a report from the Mortgage Bankers Association. With rates still rising, the incentive for people to refinance is less now than any point in 2021. Refinance application volume fell 15% from last period and is down 10.1% year over year. Refinance volume only makes up 40.6% of total mortgage application volume currently. The VA share of mortgage application volume went from 9.8% to 9.5% last period. The FHA share of mortgage application volume went from 8.8% to 9.3% last...Mortgage Application Volume Rises 8.5%
The week ending March 4th saw mortgage application numbers increase by 8.5%. This increase was also in line with the first average mortgage rate decrease in about three months. Compared the same time last year, mortgage application volume overall was down 35.8% with the largest drop in applications coming from refinance applications specifically (49.9%). Refinances made up 49.5% of new mortgage applications this past period. The FHA share of mortgage applications increased to 8.7% from 8.6% this past period. The VA share of mortgage applications increased to 10.4% from 10.2% this past...Mortgage Application Volume Dips 5.4%
The week ending February 11th saw a 5.4% decrease in mortgage application volume according to a report from the Mortgage Bankers Assocation. Compared to the same time a year ago, total mortgage application volume dropped 39.8% with a decrease of 54.1% in refinance application volume specifically. Refinance volume still makes up 52.8% of total applications as of February 11th. The VA share of mortgage application volume dropped from 10% to 9.3% this period. The FHA share of mortgage application volume increased from 8$ to 8.3% this...Mortgage Application Volume Sees 12% Spike on Demand for Refinances
This past week, mortgage application volume increased 12%. This increase was led by a somewhat surprising uptick in demand for refinances according to the Mortgage Bankers Association survey. When you compare these numbers to last year, mortgage applications dropped 37% overall with refinances specifically seeing over a 50% decrease. Refinance applications made up 57.3% of total applications this past week. With rates creeping up, seeing more refinance inquiries is definitely interesting. The FHA share of total applications decreased from 8.6% to 7.7% this past week. The VA share of total applications decreased from 9.9% to 9.1% this past...Connect With Us
