According to a report from the Mortgage Bankers Assocation new mortgage applications decreased 1.7% for the week ending July 8th. Refinance application volume increased 2% during the same period and was 80% lower than this same time a year ago. Refinances made up 30.8% of total application volume during this period.
- The FHA share of mortgage application volume decreased from 12% to 11.7% this period.
- The VA share of mortgage application volume increased from 11.1% to 11.2% this period.
