Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

Applications for mortgages jumped 11.3 percent during the week ending March 6 as rates continued to hover near historic lows, the Mortgage Bankers Association said today.While applications from homeowners looking to refinance led the surge -- rising a seasonally adjusted 13.3 percent from the week before -- applications for purchase mortgages were also up 7.1 percent. Applications for conventional loans were up 5.4 percent, while applications for government-backed purchase loans, largely FHA, were up 10.4 percent.The refinance share of mortgage applications increased to 67.9 percent, up from 66.9 percent the previous week. The adjustable-rate mortgage (ARM) share of activity was unchanged at 2.3 percent of total applications.Although mortgage rates have been on the rise this week, last wee...