Market Update: Mortgage applications show weekly growth

The weekly MBA mortgage application survey saw considerable growth this week with applications increasing 6.4% overall and refinance applications increasing 9% from the previous week. Quicken Loans economist Bill Banfield offers the following comments of the report.

“More homeowners are seizing the opportunity to refinance with interest rates at 4 month lows.   If we remain in this range, we should see HARP refinance eligible clients find significant benefits as well as great opportunities for homebuyers.”

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