By Jann Swanson
Posted To: MND NewsWire
The volume of mortgage applications increased for both refinancing and purchasing during the week ended March 27. It was the second consecutive week that the Mortgage Bankers Association’s Market Composite Index and each of its components advanced and did so convincingly. Lynn Fisher, MBA’s Vice President of Research and Economics said, “There was a broad based increase in mortgage applications last week relative to the week prior. The increase in purchase volume was led by a nearly 6 percent increase in both conventional and government markets, perhaps signaling that households are finally ready to begin the home-buying season.” The Market Composite Index, a measure of overall application volume, increased 4.6 percent from the previous week on a seasonally adjusted basis and was up by 5.0…(read more)
Via:: MBA Notes “Broad Increase” in Applications
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