Articles

Mortgage Application Volume Bounces Back, Refi Share up 20%

Posted To: MND NewsWire

Mortgage application volume during the week ended July 9 featured the largest weekly increase since the first full week of 2021. The Mortgage Bankers Association (MBA)said its Market Composite Index, a measure of that volume, rose 16.0 percent on a seasonally adjusted basis. Like the week ended January 8, last week’s number represented a bounce-back from a major national holiday, but declining interest rates probably also played a role. The increase before seasonal adjustment was 7.0 percent. The Refinance Index increased 20 percent from the previous week but was 29 percent lower than the same week one year ago. The refinance share of mortgage activity increased to 64.1 percent of total applications from 61.6 percent the previous week, the highest share for refinancing since Mar 5. The seasonally…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Leave a Reply