General World News

Refi business is picking up on falling mortgage rates

Mortgage applications shot up 15.6% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) weekly application survey for the week ending June 7.

On an unadjusted basis, the market composite index increased 26% compared with the previous week. The refinance index increased 28% from the previous week and was also 28% higher than the same week one year ago. The seasonally adjusted purchase index increased 9% from one week earlier. The unadjusted purchase index increased 19% compared with the previous week but was still 12% lower than the same week one year ago.

Mortgage rates were details ⇒

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