Mortgage Applications Up Again

After several weeks of declines, mortgage applications finally increased by 11.1% the week ending September 7th base on the Mortgage Bankers Association’s (MBA) weekly survey. Refinance applications made up 80% of the total application volume and was 12% greater than the prior week. Taking into account the Labor Day holiday, the MBA stated that “The holiday adjusted numbers may overstate the level of refinance applications because some lenders who rely primarily on the internet/consumer direct channel for organizations saw little if any decline in applications for Labor Day as compared with the drops for lenders relying on retail offices, perhaps because borrowers had additional time over the Labor Day weekend to complete online refinance applications.” To see additional mortgage application statistics and recent mortgage rates, see http://bit.ly/PczfSV.

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