Mortgage Applications Surge on Strength of Refis
Applications for home mortgages saw their biggest jump in three months last week, fueled by demand for refinancing as interest rates continued to fall, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, surged 13.0 percent in the week ended June 10, the biggest percent gain since March.
The MBA's seasonally adjusted index of refinancing applications spiked up 16.5 percent, while the gauge of loan requests for home purchases gained 4.5 percent.
Read the full story at the Huffington Post.
For more insight on mortgages and refinancing see these AOL Real Estate guides:
- Mortgage Jargon in Simple Terms
How to Get a Low Mortgage Rate
- When to Refinance
- Four Ways to Benefit From a Cash-In Refinance
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