After decreasing slightly the previous week, mortgage application volume fell 2.1% on an adjusted basis during the week ended Oct. 6, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey.
Applications for refinances deceased 4% while applications for purchases decreased 0.1%.
On an unadjusted basis, total applications decreased 2% compared with the previous week. Applications for purchases increased 0.1% on an unadjusted basis and were 7% higher compared with the same week one year earlier.
The refinance share of mortgage activity decreased to 49.0% of total applications.
Mortgage rates increased increased slightly, with the average rate for a 30-year fixed-rate mortgage at 4.16%, up from 4.12% the previous week.