This was of the MBA survey of mortgage applications. FHA rules changed on Oct. 4, making loan qualification a little tougher so I think that's why we increase in the FHA loans.
Now, this sounds like a come back in housing, about 80% of mortgage applications are for refinancing of current mortgages.
Read it allIn four-week moving averages, the seasonally adjusted market index is down 3%, the purchase index is up 2% and the refinance index is down 4.2%. Refinancings accounted for 78.9% of all mortgage applications last week, down from 80.7% the week earlier.