Wednesday, January 13, 2016
Mortgage Applications Surge
The new year is seeing a surge in mortgage activity reflecting a strong
jobs market and low rates, according to the Mortgage Bankers
Association's weekly report. Purchase applications surged 18 percent in
the January 8 week with refinancing applications up 24 percent. These
gains, however, also reflect volatility in weekly measures and largely
reverse giant swings in the prior week's data. The average rate for
conforming loans ($417,000 or less) fell 8 basis points in the week to
4.12 percent.
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