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Rising mortgage rates in the previous months resulted. the report indicated that more people opted for HARP in Florida and Illinois where it represented 2 percent of the total refinance volume.
On an unadjusted basis, the market composite index, a measure of mortgage loan application volume, rose 5% from the previous week. The Refinance Index rose 12% over the same period, and both the.
Mortgage applications in the U.S. soared last week as a plunge in borrowing costs led to biggest gain in home refinancing since January 2012. The Mortgage Bankers Association’s index rose 11.6 percent.
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