Applications for loans secured by single-family properties turned higher last week as refinance activity leapt and refinance share was the most broad it’s been in five months.

A seasonally adjusted more than 4 percent week-over-week improvement was recorded for the Market Composite Index for the seven days that concluded on Aug. 17.

The ascension from the week ended Aug. 10 was just 3 percent without seasonal adjustments to the index — a measure of retail residential loan application volume.

Source: Mortgage Daily