U.S. Mortgage Applicants Surged Last Week On Refinancing
Applications for U.S. home mortgages jumped last week, fueled by increased demand for refinancing as interest rates fell, an industry group said on Wednesday.
The Mortgage Bankers Association (MBA) said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 7.5 percent in the week ended Feb 3. The MBA’s seasonally adjusted index of refinancing applications climbed 9.4 percent, while the gauge of loan requests for home purchases was nearly flat, edging up just 0.1 percent.