To end February and usher in the first week of March, mortgage application volume dropped by 1.3%. Despite this drop experts believe we are in store for a strong start to the spring because of the rebound in purchase numbers to end the week. While mortgage interest rates are up slightly from where they started to begin the year, demand from homebuyers to purchase remains high. Refinance application volume dropped 5% over the last week also.
- The VA share of mortgage application volume decreased to 11.6% from 12.1% the previous week.
- The FHA share of mortgage application volume decreased to 11.1% from 12.3% the previous week.
