Refi Demand Highest in Months Despite Fairly Flat Rates

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Posted To: MND NewsWire

There was the usual post-holiday resurgence in the volume of mortgage applications last week, following a subdued level of activity the previous week which was shortened by the Thanksgiving Day observance. The Mortgage Bankers Association (MBA) said its Market Composite Index, which measures applications for both refinancing and purchase mortgages, was higher on a seasonally adjusted basis during the week ended December 1, and made one of its outsized swings to recoup losses on an unadjusted basis. The overall composite increased 4.7 percent on a seasonally adjusted basis and was up 47 percent on an unadjusted basis . Compared to the week ended November 24. The prior week’s results included an adjustment to account for the holiday. The Refinance Index increased 9 percent from a week before…(read more)

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