U.S. mortgage applications jumped to their highest level in more than 2-1/2 years last week, led by a surge in refinancing activity, as some home borrowing costs tumbled to their cheapest level since September 2017, the Mortgage Bankers Association said on Wednesday.
Applications to purchase a home fell 2 percent week-to-week, although they are 17 percent higher than the same week one year ago. The refinance share of mortgage activity increased to 59.1 percent of.
However, the Refinance Index increased 12 percent from the previous week and was a whopping 116 percent higher than the same week one year ago. The refinance share of mortgage activity increased to 53.9 percent of total applications from 50.5 percent the previous week.
both purchase and refinance applications surged, driven mainly by these lower rates. The refinance index jumped 47% to its highest level since 2016.” The refinance share of mortgage activity rose to.
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"Rates were going down last week," said Keith Gumbinger of HSH Associates, a publisher of mortgage information. "There were people, especially homeowners wanting to refinance. it’s unlikely that.
Mortgage Applications Jump in MBA Weekly Survey .. The refinance share of mortgage activity increased to 49.8 percent of total applications from 42.2 percent the previous week. The seasonally adjusted Purchase Index increased by 10 percent from one week earlier. The unadjusted Purchase Index.
U.S. mortgage applications edged up last week, led by a jump in requests for refinancing, as home borrowing costs fell to their lowest levels in nearly 17 months on worries about trade tensions.
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The Mortgage Bankers Association said its index of mortgage application volume rose 16.4% last week versus the previous week. The surge in activity came as rates. The MBA said refinancing.
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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.
MBA’s seasonally adjusted index on mortgage refinancing activity rose 5.1 percent to 1,502.6 in the week ended Sept. 1. This was the strongest since 1,526.8 in the week of June 16. The share of refinancing requests versus total applications grew to 50.9 percent, the biggest since January 2017, from 49.4 percent a week ago.