Refinancing Applications Jump to 15-Month High

Demand for mortgage refinancing hit a 15-month high in the week ending Aug 13, according to The Mortgage Bankers Association.

The MBA's Refinance Index rose 17.1% from a year earlier, and is now at its highest since May 2009, the MBA said in a statement. The refinance share of total mortgage applications rose to 81.4%, the highest since January 2009.

Demand for refinancing loans helped drive The Market Composite Index up by 13% on a seasonally adjusted basis from a week earlier. The index is a measure of total mortgage loan applications.

The average contract interest rate for 30-year fixed-rate mortgages was 4.6%, up from 4.57% a week earlier.


Read Full Story
  • DJI27349.19177.290.65%
    NASDAQ8251.4047.270.58%
  • NIKKEI 22521690.3469.460.32%
    Hang Seng28466.480.000.00%
    DAX12490.74201.341.64%
  • USD (PER EUR)1.12-0.0007-0.07%
    USD (PER CHF)1.01-0.0009-0.09%
    JPY (PER USD)108.16-0.0640-0.06%
    GBP (PER USD)1.24-0.0002-0.01%