Mortgage Application Volume Rises 8.3%

Mortgage application volume rose 8.3% during the week ending Jan. 18, according to the trade group Mortgage Bankers Association's weekly application survey.

The MBA's application index rose to 981.5 from 906.4 the previous week.

Refinance volume spurred the growth, increasing 16.9%. Purchase volume fell 4.6% during the week ending Jan. 18. Refinance volume accounted for 66% of all applications.

The index peaked at 1,856.7 during the week ending May 30, 2003, at the height of the housing boom.

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- Posted: 2008-01-23 09:38:04

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