Posted To: MND NewsWire

Mortgage application volume was relatively flat as the nation eased into the holiday season. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, rose 1.1 percent on a seasonally adjusted basis during the week ended December 11. On an unadjusted basis the increase was 0.4 percent. The Refinance Index increased 1.0 percent from the previous week and was 105 percent higher than the same week one year ago. The refinance share of mortgage activity increased to 72.7 percent of total applications from 72.0 percent the previous week. The Purchase Index rose 2.0 percent on both an adjusted and an unadjusted basis. Volume was 26 percent higher than during the same week in 2019. Refi Index vs 30yr Fixed Purchase Index vs 30yr Fixed ” U.S. Treasury rates stayed…(read more)

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Source: Mortgage News Daily