Mortgage Applications Recover much of Holiday Loss

Posted To: MND NewsWire

The weekly mortgage application report from the Mortgage Bankers Association (MBA) was another recounting of a post-holiday rebound. Last Wednesday's catch up on application activity during MBA's Christmas/New Year hiatus showed aggregate double digit drops in all volume categories over the last two weeks of 2015. This week's data, covering the first week of 2016 ending on January 8, shows double digit increases in every category and a net gain in purchase application volume. Overall, application volume, which was down 27 percent and 50 percent on a seasonally adjusted and unadjusted basis respectively during the last weeks of the year posted increases of 21.3 and 76 percent this past week. Refinancing rose 24 percent after last week's 37 percent decline. Purchase mortgage applications which...(read more)

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