Highlights
The volume of mortgage applications to purchase a home fell 4.4 percent in the June 3 week, a week that closes out a flat month of May and starts June off on a weak note. Purchase volumes aren't going to be boosting expectations for home sales. Unlike purchase volumes, applications for refinancing have been on the climb and relative to purchase volumes are at their highest point since the beginning of the year. The refinance index rose 1.3 percent in the week and is getting a solid boost from low mortgage rates, at 4.54 percent for 30-year loans for the lowest level since November.