If you need assistance, please call 407-288-5182

Purchase Applications Hit 11yr High, Refi Boom Continues

Friday, July 10, 2020   /   by Erik Bjorklund

Purchase Applications Hit 11yr High, Refi Boom Continues

Mortgage
Application volumes continued to grow during the week ended June 12 as mortgage
rates reached new lows and states allowed more businesses to reopen. The
Mortgage Bankers Association (MBA) said its Market Composite Index, a measure
of application volume, increased 8.0 percent on a seasonally adjusted basis
from one week earlier. On an unadjusted basis, the Index was up 7 percent
compared with the previous week. The volume of
refinancing applications moved higher for the second straight week. That index
increased 10 percent
compared to the week ended June 5 and was 106 percent
higher than the same week one year ago. Refinancing accounted for 63.2 percent
of application activity, up from 61.3 percent the prior week. The seasonally
adjusted Purchase Index rose for the ninth time, a gain of 4 percent. The
unadjusted Purchase Index increased 2 percent compared with the previous week
and was 21 percent higher than the same week one year ago.

...(read more)

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

Fidelity Home Group | Mortgage News | Mortgage Rates
eXp Realty
Tony Fuentes
1999 W. Colonial Dr
Orlando, FL 32804
407-288-5182

© 2020 My Florida Regional MLS DBA Stellar MLS, Inc.. All rights reserved. The data relating to real estate displayed on this website comes in part from the Internet Data Exchange (IDX) Program of My Florida Regional MLS DBA Stellar MLS, Inc. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers' personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law.10/24/2020 10:21 AM CST
This site powered by CINC: www.cincpro.com