Buyers are coming back.
- Total mortgage application volume increased 2.7% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
- Volume was 8% higher compared with the same week one year ago.
- Purchase applications drove the gains, rising 4% for the week and 5% annually.
- Applications to refinance a home loan were 1% higher for the week and 13% higher than a year ago, when interest rates were 37 basis points higher.