In the week ending April 29th, mortgage application volume rose by 2.5% led largely by the 4.1% increase in purchase applications. The report by the Mortgage Bankers Association points to an increase in application volume across the board after a slow start to the spring season. Comparing this week’s numbers to last year, volume is down 49.7%, which comes mainly from the drop in refinance volume (falling 70.7%).
- The FHA share of total mortgage application volume increased from 10.6% to 11.1% last week.
- The VA share of total mortgage application volume increased from 10.2% to 10.3% last week.
