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Mortgage Applications Soar to Best Levels in Over a Decade
Wednesday, January 15, 2020
Mortgage application activity exploded out of the
starting gate during the first full week of 2020. The Mortgage
Bankers Association's (MBA) said its Weekly Mortgage Applications Survey for
the week ending January 10, 2020 showed increases in every category, dramatic
ones in most, as rates set new recent lows. The Market Composite Index, a
measure of mortgage loan application volume, increased 30.2 percent on a
seasonally adjusted basis from the week ended January 3, a period that was
still in holiday mode. The previous week's results included an adjustment for
the New Year's Day holiday. On an unadjusted basis, the Index was up by 67
percent compared with the previous week.
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