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 period.
