Applications Rise Despite Rates at 3-Year Highs

Posted To: MND NewsWire

The volume of mortgage applications rose last week even as some interest rates reached their highest levels in nearly three years . The Mortgage Bankers Association (MBA) said that its Market Composite Index, viewed on a seasonally adjusted basis, was up 3.1 percent during the week ended March 10. The index rose 4.0 percent compared to the previous week when unadjusted. Applications for both refinancing and purchasing contributed to the increase. The Refinance Index was up 4.0 percent from the week ended March 3. The seasonally adjusted Purchase Index gained 2.0 percent while the unadjusted Purchase Index increased 3 percent. The unadjusted Purchase Index was 6 percent higher than the same week in 2015. Refi Index vs 30yr Fixed Purchase Index vs 30yr Fixed The refinance share of activity was…(read more)

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Source: Mortgage News Daily

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