The total mortgage application volume decreased .7% from one week earlier for the week ending December 2, 2016, according to the latest weekly report from the Mortgage Bankers Association (MBA).

Purchase loan applications decreased .4% from one week earlier, and are 3% higher than this same week last year.

Refinance applications were down 1% from the previous week. The refi share of total mortgage activity was up to 56.2% of total loan apps from 55.1% the week prior.

Adjustable-rate mortgages (ARM) were up 6.0% of total applications, the highest level since February 2016.

Loan applications for FHA loans increased to 11.3% from 10.4% the week prior.

VA loan applications were up to 12.6% from 11.7% the previous week.

The USDA share of total applications increased to 0.9% from 0.8% 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.