Wednesday, February 23, 2011

Mortgage application filings rise on low interest rates


The volume of mortgage applications filed in the past week jumped more than 10% as turmoil in the Middle East sent interest rates lower, spurring more lending activity, the Mortgage Bankers Association said in its Weekly Mortgage Applications Survey Wednesday.




A survey of loans applications for the week ending Feb. 18 shows the market composite index — a measure of loan volume — growing 13.2% on a seasonally adjusted basis when compared to a week ago. On an unadjusted basis, the index increased 14.8%.



The four-week moving average for the seasonally adjusted market index is up 1.9%, while the four-week moving averages for the purchase index and the refinance index are up 1.6% and 1.8%, respectively.



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Mortgage application filings rise on low interest rates

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