Mortgage Applications Up on Refinancing
Washington, DC, Oct. 16, 2013 -- Mortgage application volume rose slightly last week as increased refinancing offset lower demand for purchase loan, according to the Mortgage Bankers Association.
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MBA said its seasonally adjusted index of mortgage application activity rose 0.3% in the week ended Oct. 11.
The refinancing index gained 3.3% while loan requests for home purchases fell 4.8%.
MBA said 30-year mortgage rates edged up 4 basis points to 4.46%.