According to the newest weekly survey from the Mortgage Bankers Association, mortgage application volume decreased 2.0% during the week ending October 7th. Refinance applications were down 86% from this time in 2021 and made up 29% of total applications during last week’s period. The decrease in application volume comes as no surprise with mortgage rates still slowly increasing.
- The FHA share of mortgage application volume increased to 13.5% from 13.2% this past week.
- The VA share of mortgage application volume increased to 10.9% from 10.7% this past week.
