Mortgage applications jumped 16.8 percent during the week ending Oct. 24 from the previous week, but applications were down 30 percent from a year ago, the Mortgage Bankers Association said.
The MBA’s Weekly Mortgage Applications Survey showed applications for refinance loans up 28.5 percent from a week ago, while applications for purchase loans rose a more modest 8.5 percent. Applications for government-backed purchase loans, largely FHA, were up by 10.1 percent, compared with a 7.9 percent increase in applications for conventional purchase loans.
Source: Inman News