Mortgage applications were up .04% from one week earlier, according to the latest weekly report from the Mortgage Bankers Association (MBA) for the week ending July 21, 2017.

The Refinance Index led the charge with a 6% increase from one week earlier and increased to 46% of total applications from 44.7% the week prior.

The seasonally adjusted Purchase Index was down by 2% from the previous week to the lowest level since May 2017. The unadjusted Purchase Index dropped 2% compared with one week earlier and was 8% higher than the same week one year ago.

Adjustable-rate mortgages (ARM) increased to 6.8% of total applications.

Applications for FHA loans were down to 10.2% higher from 10.7% the week prior.

VA loan applications dropped to 10.5% from 10.7% the previous week.

The USDA share of total applications increased from .8% from .7% the week prior.

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