Refinancings rise amid lower rates

Home loan application volume gained 2.9 percent last week as interest rates continued to fall, the Mortgage Bankers Association reported today.

Refinancings were up a seasonally adjusted 6.5 percent from the end of April, but that gain was offset by a 0.7 percent decrease in the index for purchase loans. As a result, the refi share of loan applications edged up from 47.1 percent to 48.7 percent and the adjustable-rate mortgage (ARM) share grew from 6.8 percent to 8.3 percent.

more...

To continue reading sign in to your Premium Member account.

Premium Members have full access to all news archives.

Buy Now Purchase 1-year Premium Membership - $149.95

OR

Buy Now Purchase Monthly Premium Membership - $19.95

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.