Refinancing activity led the way as new mortgage business bounced back from the holiday week. Year-over-year activity, especially refinance business, was solidly higher.
A 26 percent rise from the week that included Columbus Day left the U.S. Mortgage Market Index from OpenClose and Mortgage Daily at 163 in the week ended Oct. 21.
The index, which is an indication of where upcoming residential loan originations are likely to head, has increased by 44 percent when compared to the same week last year.
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From:: Financing