The total mortgage application volume increased 5.8% from one week earlier for the week ending January 6, 2017, according to the latest weekly report from the Mortgage Bankers Association (MBA).
Purchase loan applications increased 6% from one week earlier. The unadjusted Purchase Index was 45% higher from the week prior and was down 18% than the same week one year ago.
Refinance applications were up 4% from the previous week. The refi share of total mortgage activity was down to 51.2% of total loan apps from 52.2% the week prior.
Adjustable-rate mortgages (ARM) were up 5.5% of total applications.
Loan applications for FHA loans were 11.7% higher from 11.6% the previous week.
VA loan applications were up to 12.8% from 12.3% the previous week.
The USDA share of total applications increased to 0.9% from 1.1% the week prior.