Mortgage Purchase Applications Fall 4% From Previous Week, Mortgage Refi Applications Fall 5.35% With Increasing Mortgage Rates

Mortgage applications decreased 5.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 2, 2021.

The Refinance Index decreased 5 percent from the previous week and was 20 percent lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 5 percent from one week earlier. The unadjusted Purchase Index decreased 4 percent compared with the previous week and was 51 percent higher than the same week one year ago.

Mortgage refinancing applications SWDA are down 5.35% from the previous week due to mortgage rate increases.

FHA mortgage purchase applications were flat for the week for 4/2/21 while VA mortgage purchase applications were down -6..234% for the week of 4/2/21.

But the FHA Purchase Applications index is 24.7% higher than the same week last year while the VA Purchase Applications index is 16% higher.