Mortgage Applications Up 3.6 Percent, Thanks to Refinancing


CNBC financial reporter Diana Olick revealed on Monday that the total mortgage application volume rose 3.6 for the week ending Aug. 14, versus the previous week.

And according to Olick, the jump was caused, in large part, by refinance applications, which surged 7 percent during the same time period.

“The pick-up in refinance activity was led by larger loan sizes on average, as continued investor interest drove jumbo interest rates down even further,” said Lynn Fisher, the Mortgage Bankers Association’s vice president of research and economics. “Changes in refinance activity were broad-based, increasing nearly 7 percent for each of the major components of our survey—conventional, FHA, and VA loans.”

Image via flickr/Got Credit

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