The Mortgage Bankers Association’s (MBA) released its weekly survey today for the week ending June 10, 2016, showing mortgage applications had decreased 2.4% from the previous week.
The Refinance Index decreased 1%, and the Purchase Index went down 5% from the previous week.
Here are some key figures from the survey:
* The total share of refinance mortgage activity had risen to 55.3% of total applications from 53.8% the previous week.
* Adjustable-rate mortgages (ARM) increased to 5.3% of total applications.
* Total applications for FHA loans had went down to 11.8% from 13.0% from the week prior.
* The VA loan share decreased to 11.1% from 11.5% the previous week.
* The total applications for USDA loans was down 0.6% from 0.7% the week prior.
I’m LoanSafe.org’s mortgage expert and a senior loan officer with Prime Lending. If you need a live rate quote, or need help getting a new mortgage, please call me direct anytime at 619-379-8999.