Refinances Drive Up Mortgage Applications

More people completed applications for loans secured by residential properties this past week, and it was refinance activity that drove the increase.

The Market Composite Index for the week that finished on July 14 climbed a seasonally adjusted 6 percent from the preceding seven-day period.

When seasonal factors are excluded, a one-third increase was recorded for the index, which is representative of the volume of retail residential loan applications.

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From:: Financing