A modest up tick in applications for mortgages was driven by accelerating refinance activity. But applications for home purchase financing turned lower.
A seasonally adjusted increase of less than 1 percent from the preceding seven-day period was recorded for the Market Composite Index for the week ended June 16.
Even without and adjustments for seasonal factors, the index — a measure of retail residential loan application volume — increased by under a percent.
Source: Mortgage Daily
