The MBA’s weekly mortgage application survey showed a 3.6% increase in overall volume from the week prior. Quicken Loans Vice President Bill Banfield offers the following comments on the report:
“Don’t look now, but mortgage rates have steadily improved since April. With the recent drops, it’s remained advantageous for folks to refinance even if the overall focus of the industry has shifted to home buying.”
If you would like to talk to someone at Quicken Loans about today’s report or anything in the mortgage market, please contact us.