Loan Applications Increase
The Mortgage Bankers Association reports that for the week ending May 6, "The Market Composite Index - a measure of mortgage loan application volume - was 781.0, an increase of 9.4 percent on a seasonally adjusted basis from 714.1 one week earlier."
Good weather to hunt for houses, a strong jobs market and favorable interest rates are credited with the increased activity. Refinance activity remained steady, the report states.
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