This week mortgage applications have increased 7% compared to last week, which is a very large increase considering that last week mortgage applications only increased 1.8%.
At the same time, this week 1-year adjustable-rate mortgages have decreased to a new record-low, in contrast to most other mortgage rates which have increased this week above their record low levels.
30-year fixed-rate mortgages have had quite a large increase this week, reaching 3.42% compared to 3.35% last week.
15-year mortgage rates have also increased from 2.56% last week to 2.61% this week.
5-year adjustable-rate mortgages have also increased slightly from 2.56% last week to 2.58% this week.
According to Freddie Mac, 1-year mortgage rates are the only ones that haven't increased, and have in fact reached a new record-low rate of 2.53% compared to 2.56% last week.
The refinance share of mortgage activity has increased this week to 76% compared to 75% last week, and the adjustable-rate mortgage share of of activity has also increased to 4% of all mortgage applications.