MBA Mortgage Applications Up 13.0% On Refinancing Activity (Week Ending August 13, 2010)
MBA mortgage applications rose 13.0% for week ending August 13, prior reading was an increase of 0.6.%. Refinance index rose 17.1%; Purchase index fell 3.4% and it is just 6 points shy of all time low. Lower rates spurred refinancing while purchasing activity stayed at recent depressed levels. Chart 1. MBA Mortgage Applications