Mortgage Application Activity Sees Biggest Increase in 4 Months

The Mortgage Bankers Association (MBA) announced that mortgage application activity “spiked up 15.5 percent in the week ended July 15.” While the home purchase portion of the mortgage application activity actually decreased by 0.1%, the majority of the activity is attributed to refinance requests, making up 70.1% of the total applications. http://reut.rs/reggc5

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