The total mortgage application volume for the week ending September 9, 2016, saw an increase of 4.2%, according to latest weekly report from the Mortgage Bankers Association (MBA).
Purchase loan applications were down 15%, and are 8% higher than this same week last year.
Refinance applications increased 2% from the previous week. The refi share of home loan activity decreased 62.4% of total applications from 64% the week prior.
Adjustable-rate mortgages (ARM) were up from the previous week with a 4.6% share of total applications.
Loan applications for FHA loans increased 9.6% from 9.5% the previous week.
VA loan applications increased 12.0% from 11.9% the week prior.
The USDA share of total applications was up 0.7% from 0.6% the previous week.