A real estate agent with prospective buyers looking at the back yard from the kitchen during a showing.
Joe Amon | Denver Post | Getty Images
The refinance boom took a step back last week, bringing down total mortgage applications.
Mortgage application volume decreased 6.4% from the previous week, according to the Mortgage Bankers Association.
Refinance demand had been driving the volume of mortgage applications up, but refinance applications decreased 8% for the week, according to the MBA’s seasonally adjusted tally. The refinance index is still up year over year, with an increase of 165% from a year ago. Even with the weekly drop, it was the third highest reading this year.