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October 10, 2012

Mortgage application activity remains at elevated volume for October 5 week

by Rylan Stewart

The busy pace of mortgage activity sustained itself after applications rose an astonishing 16.6 percent during the September 28 week. During the October 5 week, purchase activity rose another 2.0 percent, and is now up 6 percent over the previous two weeks to reach the largest volume since June. Refinance activity fell 2.0 percent, but after a jump of 20 percent the previous week, remains at an elevated volume that is near a three-year high. Overall numbers showed a weekly 1.2 percent drop in applications.

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