Home mortgage loan application numbers experienced a slight downturn this week falling by 4.8% according to a report from the Mortgage Bankers Association. Leading this dip, was a 7% decline in refinance numbers, which included a 9% drop in conventional refinance applications. Refinance volume remains 52% higher right now than it was this time in 2019. Purchase home mortgage loans made up 36.7% this past week, which is slightly higher than last week’s volume.
- The FHA’s share of mortgage applications rose to 11.4% from 10.1%
- The VA share of applications fell to 11.9% from 12%
