After two weeks of slight declines, mortgage applications regained their footing last week, rising 1.7% from the previous week. The refinance numbers led this rebound by increasing over 3% from the week prior. Refinances are now making up 66.7% of mortgage application volume. Purchase applications rose only 0.2% this past week, but remained 24% higher than this time last year.
- The FHA’s share of mortgage applications fell to 11.7% from 11.8%.
- The VA share of applications fell to 11.4% from 12.6%.
