New regulations recently implemented in the mortgage market have put loan applications on a roller-coaster ride that just keeps going.
Total application volume increased 11.8 percent on a seasonally adjusted basis last week from the previous week, according to the Mortgage Bankers Association. Last week's results include an adjustment for the Columbus Day holiday.
The jump follows two weeks of sharp moves in opposite directions due new mortgage disclosure rules for lenders. The rules went into effect Oct. 3, so applications increased dramatically just before the deadline, then plummeted, and now are back up again, although not quite as sharply.