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.

Erik Sandstrom
LoanSafe's Mortgage Expert
I'm a Senior Loan Officer and LoanSafe mortgage expert. If you need a live rate quote, or need help getting a new mortgage, please call me direct anytime at 619-379-8999.