Mortgage loan uptick
Published June 12, 2008 by CSBJ Staff
A 10.9 percent increase in mortgage loan application volume for the week ending June 6 was boosted both by an 8.4 percent bump in refinance applications and a 12.8 percent upswing in new purchases, according to the Mortgage Bankers Association.
Conventional loan borrowers increased 11 percent on a week-over-week basis, while government applications for Federal Housing Administration and Veteran’s Administration loans jumped 17 percent.
Refinance mortgage activity decreased to 39.8 percent of total applications from 40.6 percent the previous week, and adjustable-rate mortgage activity increased to 10.3 percent from 8.7 percent of total applications.
Filed under CSBJ Daily, Housing Market