Home loan applications rise

By Qiong (June) Zhang35 Comments

http://www.bankrate.com/financing/mortgages/home-loan-applications-rise/

The volume of new mortgage applications increased 5.3% in the week ended April 15 compared with the prior week, according to a survey conducted by the Mortgage Bankers Association, or MBA, in Washington, D.C.

But the more interesting info, as always, was in the details:

  • The index that measures home purchasing activity was up 10% to the highest level in more than four months.
  • That jump was driven largely by a 17.6% increase in applications for so-called government loans.
  • The index that measures refinancing activity was up 2.7% from week to week, likely due to a dip in interest rates during the recent period. But refinancing activity dropped to 58.5% of total applications, the lowest proportion since May 7, 2010.
News, News-Mortgage

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