Mortgage Applications Surge 32% New Year's Week |
| FOXNews - Jan 9, 2008 |
Mortgage application volume skyrocketed 32.2% during the holiday shortened week ending Jan. 4, ending three consecutive weeks of sharp declines, according to the Mortgage Bankers Association's weekly application survey.
The MBA's application index jumped to 706 from 533.9 the previous week, which was also a holiday shortened week because of Christmas. The index can be more volatile around the holidays, as volume tends to be smaller and seasonal adjustments are made. During the same period the previous year, the application index jumped 16.6%.
Application volume is still 13% less than it was four weeks earlier when it began a run of steady declines. The index stood at 811.8 for the week ending Dec. 7.
Read Full Article from FOXNews
- Posted: 2008-01-09 09:37:59
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