According to data from the Mortgage Bankers Association mortgage application volume increased 4.2% in the week ending June 17th. Refinance volume specifically fell 3% during the same period making the year-over-year refinance application volume 77% lower than the same week ago last year. Refinance application volume made up only 29.7% of total applications last week.
- The FHA share of total application volume increased to 12% from 11.8% the prior week.
- The VA share of total application volume decreased to 10.7% from 11.7% the prior week.
