While new weekly refinance activity slowed for the second week in a row, purchase-money business turned higher. Jumbo business had a healthy week-over-week gain.
A 3 percent decline from the previous week left the U.S. Mortgage Market Index from OpenClose and Mortgage Daily at 169 for the week that ended on Aug. 26.
Still, the index — a representation of average per-user rate locks submitted by clients of Open Close — has ascended 17 percent compared to the same week last year.
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From:: Financing