Posted To: MND NewsWire

Mortgage application activity exploded out of the starting gate during the first full week of 2020 . The Mortgage Bankers Association’s (MBA) said its Weekly Mortgage Applications Survey for the week ending January 10, 2020 showed increases in every category, dramatic ones in most, as rates set new recent lows. The Market Composite Index, a measure of mortgage loan application volume, increased 30.2 percent on a seasonally adjusted basis from the week ended January 3, a period that was still in holiday mode. The previous week’s results included an adjustment for the New Year’s Day holiday. On an unadjusted basis, the Index was up by 67 percent compared with the previous week. The Refinance Index gained 43 percent from the previous week and was 109 percent higher than the same week one year…(read more)

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Source: Mortgage News Daily