Market Update: Refinances increase by 8%

This morning’s MBA Weekly Mortgage Applications Survey reported a 7% rise in mortgage applications, with refinance applications jumping 8%. Quicken Loans Chief Economist Bob Walters offers the following comments on the report:

“Strong refinance volume quietly continues amid a national conversation dominated by news of rising home prices and lack of inventory. Record low interest rates coupled with the HARP program aimed to help underwater homeowners, continues to drive refinancing.”


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