On Wednesday the Mortgage Bankers Association said that its weekly index of mortgage application volume country-wide experienced an increase of 9.6 percent bringing the seasonally adjusted volume to 853.4 for the week ending July 1. Despite interest rates leaning in the upward direction, the index broke a consecutive two-week decline after experiencing a 1.1 percent loss the prior period.
The adjusted index of refinance applications went up by 10.2 percent to 2788.2 after declining by 1.8 percent the previous week.
The Mortgage Bankers Association's home purchase loan tally saw a 9.1 percent gain to 520.8. The previous week purchase application volume also suffered in harmony with refi activity having dropped 0.4 percent the prior period. - Article by Nolan Voight for CMR Syndicated News.Email Mr. Voight.
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