By Jann Swanson | Mortgage News Daily
Declining rates, in one case returning to July 2016 levels, stoked mortgage application activity during the week ended September 30. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, increased 2.9 percent on a seasonally adjusted basis compared to the week ended September 23. Unadjusted the index increased 3.0 percent.
The Refinance Index increased by 5 percent from the previous week and the share of refinancing applications increased to 63.8 percent of total activity, up from 62.7 percent a week earlier.
