Low rates continue to prop refinance volume

 

• MBA Mortgage Applications
• Composite Index: +0.8% vs. +1.1% the previous week.
• Purchase Index: -4.6% vs. +2.0% the previous week.
• Refinance Index: +3.8% vs. +1.0% the previous week.
• 30-year mortgage rate remains at 2.86% vs. 2.85%.
• On a year-over-year basis, purchase mortgage apps up 26% and refis up 124%.
• “Last week’s inc