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Mortgage Applications Increase 4.9%

Both refinancing activity and home purchases increased, pushing mortgage applications up to 4.9%.

According to the Mortgage Bankers Association refinance index climbed to 4.4% from the week of 10/17, while the seasonally adjusted purchase index increased 6.4%.

Refinancing was 77.3% of all mortgage applications.

Investors accounted for 6% of mortgage application activity in September, which is about a 6% increase over the previous month.

The average 30-year, fixed-rate mortgage remained unchanged at 4.33%. Jumbo loan increased to 4.68% from 4.64%.

http://mbaa.org/NewsandMedia/PressCenter/78279.htm

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