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

Quarantines Lift, Mortgage Volume Explodes

Friday, July 10, 2020   /   by Erik Bjorklund

Quarantines Lift, Mortgage Volume Explodes

The
Mortgage Bankers Association (MBA) says that mortgage application volume rose
significantly during the week ended June 5 as many states began to lift
restrictions
on individuals and businesses imposed in response to the COVID-19
pandemic. MBA's Market Composite Index, a measure of mortgage loan application
volume, increased 9.3 percent on a seasonally adjusted basis from one week
earlier and was 20 percent higher on an unadjusted basis. Purchase
applications continued upward
, gaining 5 percent from the previous week on a
seasonally adjusted basis, the eighth straight week of gains. The volume was up
15 percent before adjustment and was 13 percent higher than during the same
week in 2019. The
Refinance Index gained 11 percent compared to the previous week and was 80
percent higher than the same week one year ago. The refinance share of mortgage
activity increased to 61.3 percent of total applications from 59.5 percent the
previous week.

...(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.10/26/2020 1:35 AM CST
This site powered by CINC: www.cincpro.com