Purchase applications edge up

by MPA03 Apr 2014
Overall mortgage applications fell last week, while purchase applications saw a slight rise.

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.

COMMENTS

Poll

Is TILA-RESPA a good or bad thing long term?