Talking Points

  • Mortgage application volume fell 2.7 percent last week, according to the Mortgage Bankers Association’s seasonally adjusted report. 
  • Volume was 4.5 percent lower than a year ago.
  • The weakness was most pronounced in applications to refinance a home loan. That volume fell 4 percent to its lowest level since August 2008. Refinance volume is off nearly 17 percent from a year ago, when interest rates were lower.