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Mortgage Applications Bouncing Back

Posted To: MND NewsWire

Mortgage rates remained largely flat or even slightly lower during the week ended November 30. This probably helped to maintain the upward trend in mortgage applications that began the previous week during the Thanksgiving holiday and despite a shortened work week. The Mortgage Bankers Association (MBA) said its market Composite Index, a measure of loan application volume, moved up 2 percent on a seasonally adjusted basis and after an adjustment to the prior week's report to account for the holiday. On a non-adjusted basis, applications shot up 42 percent. The seasonally adjusted Purchase Index extended its increases to a third week, rising 1 percent from the week ended November 23. The unadjusted index was up 36 percent and was 0.2 percent higher than the same week in 2017. The Refinance Index...(read more)