Mortgage Applications Highest in Three Years
"Mortgage applications increased 18% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 8.
The Market Composite Index, a measure of mortgage loan application volume, increased 18% on a seasonally adjusted basis from one week earlier to the highest level since May 2009. On an unadjusted basis, the Index increased over 30% compared with the previous week. The Refinance Index increased over 19% from the previous week to the highest index level since April 2009."
MP: More evidence that the real estate market is making consistent gains, and in a gradual recovery mode.