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Mortgage Applications Sink to 1-Month Low

Mortgage News > Mortgage Applications Sink to 1-Month Low
Date: 08/02/2018    Mortgage Applications Sink to 1-Month Low

As mortgage interest rates have risen, mortgage application volume fell to its lowest point in over a month, according to the Mortgage Bankers Association (MBA). Refinance applications decline by 2% over the past week while home purchase requests dropped 3% from the week before.

The refinance share rose slightly to 37.1% of all applications, up from 36.8% a week earlier. And more buyers turned to ARM loans as rates increased, with ARM loan requests making up 6.4% of total applications. 

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