Mortgage Application Volume Up on Refinancing
Washington, DC, April 16, 2014 -- Mortgage application volume rose 4.3% last week from the week before, according to the Mortgage Bankers Association’s weekly survey.
The Market Composite Index increased 4.3% on a seasonally adjusted basis from one week earlier.
The refinance index rose 7% while purchase index rose 1%.
The refinance share increased to 52% of total applications from 51% the previous week.
The average interest rate for 30-year fixed-rate mortgages decreased to 4.47% from 4.56%.