According to The Mortgage Bankers Association’s Weekly Applications Survey, demand for purchase applications surged 14.4 percent last week, the highest level since the week ending May 7. Michael Fratantoni, MBA’s vice president of research and economics, said the increase aligns with other data suggesting consumers are feeling more confident with their financial situation. The Refinance Index, though, was down 1.0 percent from the previous week. The Market Composite Index, which measures total loan application volume, was up 2.1 percent. More here and here.
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