Mortgage applications surge 5.8 percent, as rates briefly dip

By Diana Olick | CNBC

Borrowers came back to the mortgage market last week, thanks to a slight retreat in interest rates. Total mortgage application volume rose 5.8 percent for the week compared to the previous week.

Still, volume came in 28 percent lower than the same week a year ago. The Mortgage Bankers Association’s seasonally adjusted report includes an adjustment for the Presidents Day holiday.

Continued:

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