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Mortgage applications surge 13.5% as borrowers rush to take advantage of lower rates

Mortgage applications surge 13.5% as borrowers rush to take advantage of lower rates

Mortgage application volume rose 13.5 percent last week, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

CNBC

That is its highest level since February and came after a 23 percent jump the previous week. Volume was just 0.5 percent lower than a year ago.

Refinance demand drove the gains, with those applications rising 19 percent for the week to the highest level since last March.

Mortgage demand continues to recover sharply, after ending last year in the basement.

More info at CNBC:
Mortgage applications surge 13.5% as borrowers rush to take advantage of lower rates

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MBA

The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,400 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.

Contact:

Mortgage Bankers Association
1331 L Street, NW
Washington, DC 20005

Phone: (202) 557-2700