Following three weeks in a row of decreases, mortgage application number have rebounded for the period ending June 11th. Applications for both new purchase mortgages and refinances rose in volume this week, but refinances saw the biggest increase with a 5.5% gain. Year-over-year purchase application volume is down 17%, but levels remain historically high compared to other years. Refinances made up 61.7% of total mortgage applications in this past period.
- The FHA share of mortgage application volume increased from 9.5% to 9.6% this past week.
- The VA share of mortgage application volume increased from 11.2% to 11.5% this past week.
