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MBA Finds Refinancing Activity Increases

WASHINGTON, DC-Of all mortgage loan applications, which went up overall in the latest weekly survey of the Mortgage Bankers Association of America, refinancing activity represented 44.1%, up from 43.7% the week before.

By Amy Vaughn | Updated on July 05, 2001

WASHINGTON, DC-The Weekly Mortgage Applications Survey of the Mortgage Bankers Association of America found in the week ending June 29, refinancing continued to rise and to make up the majority of mortgage loan applications. Refinancing represented 44.1%, up from 43.7% the week before. Overall applications were up .8%.

Experts have told GlobeSt.com over the last few months that refinancing is often an attractive option when the market is in a downturn and sellers are unable to find the asking prices they seek. With that in mind, perhaps it is no surprise that refinancing is up in this down cycle, which is lasting longer than many had originally predicted.

On a seasonally adjusted basis, the market composite index of mortgage loan applications overall for the week ending June 29 increased to 486.3 from 482.5 the previous week. On an unadjusted basis, it went up .6%. Compared to the same week in 2000, it was actually up 48.4%.

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