Mortgage Applications Up 2.7% on Refi Push According to the National Association of Realtors

Total mortgage application volume, including for refinances and home purchases climbed 2.7% last week on a seasonally adjusted basis over the previous week, the Mortgage Bankers Association reported last week.

The 30 year fixed rate dropped 3.86% last week, compared to 3.94% the prior week according to Mortgage Bankers Association.  “This was the first increase in refinance activity after 6 weeks of declines” says Mortgage Bankers Association economist, Joel Kan.  “Applications for conventional refinance loans increased around 9%, while applications for government were essentially unchanged.