Mortgage applications took off this past week, with refinances leading the way. As refinance share widened to a nearly three-month high, adjustable-rate share was at an almost 11-month low.
A nearly 5 percent seasonally adjusted escalation from one week previous was recorded for the Market Composite Index for the seven-day period that concluded on Dec. 1.
But the index, a measure of retail single-family loan application volume, skyrocketed 47 percent from the week ended Nov. 24 when seasonal factors are disregarded.
Source: Mortgage Daily