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Mortgage Applications Up 38 in Weekly Survey

first_img in Daily Dose, News, Origination Share October 8, 2014 472 Views Mortgage Applications Up 3.8% in Weekly Surveycenter_img Mortgage application volumes kicked off the month with a small increase as interest rates tumbled a few points, according to industry data.The Mortgage Bankers Association’s (MBA) weekly measure of mortgage applications rose 3.8 percent for the week ending October 3, the group reported Wednesday. The increase includes adjustments for seasonal influences.Unadjusted, application totals came up 4 percent week-over-week.MBA’s gauge measuring refinance activity increased 5 percent from the previous survey, spurred by a decline in interest rates. According to the association’s metric, the average 30-year fixed mortgage rate for the week was 4.30 percent for conforming loans, with points falling to 0.19 from 0.31 for 80 percent loan-to-value loans.Despite the jump, the refinance share of total mortgage application activity was unchanged at 56 percent.Meanwhile, applications for home purchases increased 2 percent, both adjusted and unadjusted. Compared to a year ago, purchase loan applications are still down 8 percent. Mortgage Applications Mortgage Bankers Association Mortgage Rates Purchase Loans Refinance 2014-10-08 Tory Barringerlast_img

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