Refinancing Resumes in Post Holiday Week, Up 6%

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Posted To: MND NewsWire

Refinancing accounted for much of the increase in mortgage application activity during the week ended November 30 and the share of that refinancing done through the Home Affordable Refinancing Program (HARP) also increased. Overall mortgage application volume as measured by the Mortgage Bankers Association's (MBA) Mortgage Composite Index rose 4.5 percent on a seasonally adjusted basis and the Refinance Index was up 6 percent. On an unadjusted basis the index increased 49 percent from the week ended November 23. That week was shortened by Thanksgiving and the seasonally adjusted number that week included an adjustment to account for the holiday. The seasonally adjusted Purchase Index increased 0.1 percent from a week earlier and the unadjusted Index was up 36 percent from Thanksgiving week...(read more)

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Source: www.mortgagenewsdaily.com

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