Mortgage application volume rises, driven by refinances

After increasing the previous two weeks, mortgage application volume dipped 0.9% on an adjusted basis during the week ended aug. 16, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. The previous week, applications jumped an impressive 21.7%, driven mainly by a 37% increase in applications for refinances that was driven by lower rates.

"Mortgage applications were down last week, even as rates moved lower across the board, with the 30-year fixed rate at 4.08 percent. Refinance activity was lower, but we did see government refinance applications increase, driven solely by a 12 percent rise in FHA applications," said Joel Kan, MBA’s Associate Vice President of Economic and.

After increasing the previous two weeks, mortgage. refinances decreased 2% while applications for purchases decreased 3%. The results include an adjustment for the Washington’s Birthday (Presidents.

Mortgage application volume increased last week for the first time since the week ended September 12. The Mortgage Bankers Association (MBA) said that its Market Composite Index, a measure of that.

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Mortgage application volume fell across the board during the week ended April 22. Applications were down for both purchase mortgages and refinancing as rates rose. 1990=100 and rate data is based.

Higher interest rates cut refinance mortgage application volume and reduced. decreased over the week, driven by a decline in refinances. 3 days ago. Mortgage Application Volume Fell For a Third Straight Week. In contrast to what typically happens when rates rise, applications for refinances increased 2%, its highest level in a month, driven.

Total mortgage application volume decreased 1.1% for the. when interest rates were 65 basis points higher. "Refinance applications increased, with activity reaching its highest level in a month,