News

Source: Boston Globe
Author: Chris Reidy
Published: November 14th 2007

Mortgage applications increased as refinancings jumped in the latest weekly survey from the Mortgage Bankers Association.

The association, which represents the real estate finance industry, said its market composite index, a measure of loan application volume, was 707.3 for the week ending Nov. 9.
That was an increase of 5.5 percent on a seasonally adjusted basis from the previous week's reading, the association said; on an unadjusted basis, last week's reading was up 21.8 percent compared with the same week one year earlier.

For the week ending Nov. 9, the refinance index increased 6.4 percent to 2315.7 from 2176.1 the previous week, the association said.