Mortgage applications surge 11.6% on lower rates

Housing Wire ^ | 22 October 2014 | Trey Garrison

[Lorianne]

Refis jump 23%; refi share is 65% of apps ___ Mortgage applications increased 11.6% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending October 17, 2014.

This week’s results did not include an adjustment for the Columbus Day holiday.

The refinance share of mortgage activity increased to 65% of total applications, the highest level since December 2013, from 59% the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 9.4% of total applications, the highest level since June 2008.

[Graybeard58]

What’s the rate on 15 yr. fixed?

[VTenigma]

Don’t get excited, mostly refi’s

[trebb]

Don’t get excited, mostly refi’s

Yep - next big jump will be when they return to pushing lenders to grant mortgages to those unable/unwilling to pay for them - the beat goes on...