Refi Mortgage Applications Jump

During the recent holiday week, new applications for mortgage refinances surged. But similar strength was not exhibited for new purchase activity.

A 7 percent increase on a seasonally adjusted basis was recorded in the week ended July 8 from a week previous for the Market Composite Index.

Foregoing seasonal adjustments, the index, a measure of mortgage loan application volume, dropped 14 percent during the week that included July 4.

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From:: Financing