Mortgage applications dip 0.3% as FHA and ARM shares rise

“Mortgage applications were relatively flat over the week, but it was a mixed bag for the different loan types. The 30-year fixed rate was unchanged at 6.21%, and conventional applications declined for both purchases and refinances as borrowers held out for another drop in rates or shifted to other loan types,” said Joel Kan, MBA’s vice president and deputy chief economist. “FHA…