There was a jump in mortgage applications for new home purchases in August rising 6.8% year over year and up 7% compared to July 2017
While purchases remain steady, the competitive market and low rates may be pushing some millennials to stay put and refinance
An index of refinance mortgage application volume rose 5% from a week ago
Refinance loans took a 50.9% share of all new mortgage applications last week, their highest share since January
FHA loans aren’t the only products that let customers keep their down payments low
The MBA said recent loan performance was supported by an improved employment outlook