The Mortgage Bankers Association's Weekly Mortgage Applications Survey has shown overall mortgage application volume fell 1.2% for the week ending March 28. Refinancing has continued its downward trend, with the refinance share of mortgage activity falling for the eighth straight week to 53% of total applications from 54% the previous week.
Purchase applications, meanwhile, edged up slightly by 1%. But purchase applications were down 17% on the same week one year ago.
Overall mortgage applications fell last week, while purchase applications saw a slight rise.