Mortgage Applications for Both Refinances and Home Loans Surged

Global stock markets plummeted last week, but that didn’t slow down the U.S. mortgage market. Mortgage applications for both refinancings and home loans surged 9% week-over-week on a seasonally adjusted basis, according to the Mortgage Bankers Association’s survey for the week ending Jan. 15.  Refinance applications saw the bulk of the increases, rising 19% week-over-week.  Still, they are 40% below where they were a year ago, even though mortgage rates are lower. Read article – Realtor Magazine

   

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