Mortgage application volume stayed relatively stagnant this week but did see a small decrease, down 0.7% from the week prior according to a report from the Mortgage Bankers Association. After hitting their highest levels since mid-August the week before, refinance volume experienced a slight 0.3% decrease this past week, but still remained 44% higher than this time last year. Almost 2/3 of home mortgage loan applications were for refinances in this last seven days.
- The FHA’s share of mortgage applications fell to 10.7% from 11%.
- The VA share of applications rose to 13.4% rom 12.2%.
