According to the newest survey from the Mortgage Bankers Association, new mortgage application numbers decreased 1.7% this past week. When compared with this time last year mortgage applications saw a 42% decrease year-over-year. This also marked the 10th consecutive week that the average 30-year fixed rate has increased, making it no surprise fewer people are applying for new mortgages.
- The FHA share of mortgage applications increased to 13.9% from 13.6% this past week.
- The VA share of mortgage applications remained at 10.7% this past week.
