The VA

Purchase mortgage applications continue to decline, falling to their lowest level since the start of the spring, as supply constraints limit homebuyer activity, according to the Mortgage Bankers Association.

President Trump has signed the Protecting Affordable Mortgages for Veterans Act, which aims to address concerns that rules around certain VA refinances were impeding those loans' inclusion in secondary market pools.

Fewer consumers applied for mortgages last week even as interest rates declined by 3 to 4 basis points for all product types, according to the Mortgage Bankers Association.

Higher interest rates led to a 1.1% seasonally adjusted decline in mortgage applications compared with the previous week, according to the Mortgage Bankers Association.

A decline in refinancings led to a drop in mortgage application volume last week, even though purchase activity continues to rise, according to the Mortgage Bankers Association.

Mortgage application activity was virtually flat from one week earlier, down just 0.1%, although there was a huge gain in Federal Housing Administration refinance volume, according to the Mortgage Bankers Association.

The refinance share of mortgage applications climbed to the highest level since January 2018 as the average 30-year fixed interest rate continued tumbling, according to the Mortgage Bankers Association.

Mortgage applications decreased by 3.4% this week, although refinance activity remained close to its 2019 high point, according to the Mortgage Bankers Association.

With refinance activity rising to its highest level in three years, mortgage application volume increased 26.8% from one week earlier, according to the Mortgage Bankers Association.

Refinance mortgage application activity surged as interest rates fell to their lowest level since the start of 2018, but potential homebuyers remained sidelined due to economic uncertainty, according to the Mortgage Bankers Association.