Application volume is flat as refinance activity slows

Mortgage application volume rises again on refinance activity Refinances drove mortgage applications up for the second week as mortgage rates remained low, and overall application volume was at the highest level since June 2013 last week, according to the weekly mortgage bankers Association (mba) applications survey released today.

The refinance share of mortgage activity increased to 42.2% from last week’s 39.7%. The adjustable-rate mortgage share of activity increased to 7.1% of total applications.