Mortgage Applications Remain Near Three-year High
The Mortgage Bankers Association’s seasonally adjusted index of mortgage application activity fell 1.2 percent in the first week of October. The index measures mortgage applications for both home purchases and refinancing; the former rose, while the latter dropped. Refinancing applications fell 2 percent, but even with the decline, the volume of applications still remains close to three-year highs. Meanwhile, the gauge that measures the number of loan requests from home buyers rose 2.4 percent. Applications for home purchases, one of the key indicators of home sales, reached their highest levels since June.
