Mortgage Applications, Refinancings Rise
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From Reuters
New applications for U.S. mortgages rose last week on a rebound in refinancing demand, snapping five consecutive weeks of decline, the Mortgage Bankers Assn. said.
Its seasonally adjusted market index, a measure of weekly mortgage activity, rose 5.6% to 600.6 in the week ended Friday from the previous week’s 568.8. The industry trade group’s seasonally adjusted refinancing index increased 8.5%, its biggest weekly percentage rise in three months, to 1,479.4.
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