Home mortgage loan applications fell 2% in the last week according to the newest report from the Mortgage Bankers Association, marking the third consecutive week of declines. The refinance index fell 3% last week, but remained 40% higher year-over-year. Purchase applications for home mortgages fell 0.2% from last week, but still saw a 28% year-over-year increase from last year marking the 15th week in a row of year-over-year gains.
- The FHA’s share of mortgage applications fell from 10.5% to 10.2%.
- The VA share of applications fell to 11.4% from 11.8%.
