Mortgage applications jump 9.3%

Julie C. Nichols General

Reblogged from CNBC – Diana Olick

A sharp drop in interest rates prompted more homeowners to refinance their mortgages last week, especially those with large loans, the Mortgage Bankers Association said Wednesday.

Total mortgage application volume increased 9.3 percent on a seasonally adjusted basis from the previous week. Interest rate-dependent refinances were almost entirely behind the gains.

>> Read More: http://www.cnbc.com/2016/02/10/wealthy-borrowers-behind-jump-in-new-mortgages.html

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