Mortgage Refinance Applications Surge on Brexit

Applications for residential loans turned sharply higher this past week thanks to Brexit, and ongoing falling rates could mean further improvement ahead.

The Market Composite Index climbed a seasonally adjusted 14 percent in the week ended on July 1 compared to the report issued seven days earlier.

Without any seasonal adjustments, the index — a measure of mortgage loan application volume — was still down 14 percent from the week ended June 24.

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From:: Financing