For Third Week Mortgage Apps Soar to Record High
Mortgage applications set a record for the third consecutive week as lower rates drew out more refinancers and home buyers, according to the Mortgage Bankers Association's seasonally adjusted application index.
Total mortgage application volume rose 1.6 percent last week compared to the previous week, and applications are now 1.8 percent higher than a year ago, according to the MBA. Many of those gains have come from refinancers, but more purchase applications are also appearing. Purchase applications are 1 percent higher than a year ago.