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Modest Uptick in Refinancing After Modest Drop in Rates

Wednesday, July 29, 2015

Perhaps consumers viewed the recent retreat in rates as their last chance to refinance before the Fed starts ratcheting up rates - maybe today, maybe in September, but mortgage applications, especially for refinancing, increased during the week ended July 24. 

 The Mortgage Bankers Association's (MBA) said its Market Composite Index, a measure of mortgage loan application volume, increased 0.8 percent on a seasonally adjusted basis from the week ended July 17.  On an unadjusted basis, the Index increased 1 percent.

 

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