Purchases Out Front of Mortgage Application Rise

Purchase financing led an increase in overall new applications for home loans during the holiday week. A modest rise was recorded for refinances.

The volume of retail residential loan applications completed in the week ended Sept. 9 rose a seasonally adjusted 4 percent from a week earlier.

That was based on the Market Composite Index, which tumbled 17 percent when no seasonal adjustments are made for the Labor Day holiday.

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From:: Financing