After six weeks in a row of mortgage application decreases, last week there was a 8.6% rise in volume. Mortgage rates reached their lowest level in almost two months and this caused the uptick in refinance volume we experienced last week. Refinance applications accounted for 60% of total mortgage applications during this past week.
- The FHA’s share of mortgage applications increased to 11.3% from 10.8% the previous week.
- The VA’s share of mortgage applications decreased to 11.5% from 12.1% the previous week.
