Both Refi and Purchase Apps Rose Last Week


Posted To: MND NewsWire

Both purchase and refinance applications increased during the week ended May 5. The Mortgage Bankers Association said its Market Composite Index, a measure of application volume, was 2.4 percent higher than the previous week on a seasonally adjusted basis and was up 3 percent unadjusted. The Refinance Index rose 3 percent from the week ended April 28 and the refinancing share of applications ticked up to 41.9 percent from 4.6 percent. The Purchase Index was up week-over-week by 2 percent on both a seasonally adjusted and an unadjusted basis and was 6 percent higher than during the same week in 2016. The seasonally adjusted Conventional Purchase Index reached its highest level since April 2009 after gaining 2 percent from the previous week. Refi Index vs 30yr Fixed Purchase Index vs 30yr Fixed…(read more)

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