Weekly mortgage applications rise 2.7% in a strong week for homebuyers

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.