03/10/10
Buying a Home | Financing | LendingTree
Wave of Refinances as Mortgage Applications Rise
By: Craig Grella
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As rates dropped below 5 percent over the first two months of the year mortgage refinance volume increased and purchase volume remained unchanged. In its market composite index, a measure of mortgage loan application volume, the Mortgage Banker’s Association (MBA) reported refinance volume increasing 1.8 percent over the previous month and purchase loan volume decreasing 2.7 percent over the same period.
