US Mortgage Purchase Applications Surge 13.41% (Refi Apps Surge 20.92%)

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by confoundedinterest17

It is difficult to keep an economy down with Covid-related shutdowns.

According to the Mortgage Bankers Association applications index, unadjusted purchase applications rose 13.41% for the week ending 09/18. Unadjusted refinancing applications rose 20.92%.

Mortgage purchase applications usually peak in late April or early May, but due to Covid, they peaked this year in late June and had another boost in the latest week.

Mortgage rates, according to Freddie Mac’s latest loan committement data, is at 2.87%.

You can see the impact of easy credit standards on mortgage purchase applications, …

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