Market update: Mortgage applications rise slightly in this week’s report

Mortgage applications remained rose slightly last week by 0.4 percent. Quicken Loans vice president Bill Banfield offers the following comments on the report:

“January was great for bond prices and mortgage-backed securities, and thus we saw mortgage rates continue to drop at the close of the month. Believe it or not, there are still millions of folks out there who could benefit from refinancing, and the uptick in refinance volume from lower rates shows us that.”

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