Mortgage Applications Jump 13.2%
Mortgage loan applications increased 13.2 percent on a seasonally adjusted basis compared to one week earlier, according to the Mortgage Bankers Association’s Weekly Mortgage Applications survey.
The number of refinancings increased the most: The Refinance Index increased 17.8 percent compared to the previous week. Overall, the refinance share of mortgage activity increased to 65.7 percent of total applications.
Meanwhile, the Purchase Index increased 5.1 percent compared to the week prior.
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Posted on Fri, February 25, 2011