Refi Applications Continue Healing With Help From FHA Fee Cut

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Posted To: MND NewsWire

Mortgage applications rose on a seasonally adjusted annual basis during the week ended January 13. The Mortgage Bankers Association said its Market Composite Index, a measure of applications volume, increased by 0.8 percent compared to the week ended January 6. On a non-adjusted basis, the volume was up 29 percent. The previous week’s number included an adjustment to account for the New Year’s Day holiday. The slight increase in applications volume was driven by refinancing . That index climbed by 7.0 percent from a week earlier. The share of applications which were for refinancing grew from 51.2 percent of the total to 53.0 percent. The seasonally adjusted Purchase Index decreased 5 percent week-over-week while unadjusted it was up 25 percent. Purchase mortgage applications were down 1 percent…(read more)

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