Mortgage application volume increased 2.1% on an adjusted basis during the week ended June 18, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey.
Despite that mortgage rates increased, applications for refinances increased 3% compared with the previous week while applications for purchases increased 1%.
Year-over-year, applications for refinances were down 9% while applications for purchases were down 14%.
The average rate for a 30-year, fixed-rate mortgage was 3.18%, up from 3.11% the
