Mortgage applications

Increased purchase activity countered a slowdown in refinance applications, which were impacted by rising rates.

Refinancing volume dropped to its lowest level in three months, while purchases also decreased in number.

As applications dropped, average loan sizes grew, with the purchase amount hitting its highest level since May.

Purchases jumped to a high not seen since April, while refinances were also up due to the increased use of government programs.

But the pace of refinances was at its slowest since July, even as interest rates remained low.

Refinance and purchase applications both declined, while average loan sizes shrunk for the fifth consecutive week.

Purchases and refinance activity both edged higher, as loan sizes decreased, signaling opportunities may exist for first-time buyers.

Increased purchase lending and added pressure from Fannie Mae and Freddie Mac’s new loan limits should drive the likelihood of borrower misrepresentation.

Despite declining rates, refinancing volume fell, while purchases slowed even further after dipping to its lowest point in over a year.

Such applications have declined on an annual basis for the past three months, but overall weekly numbers increased due to a jump in refinances amid plummeting rates.