Refinance Again..
By now this roller coaster ride of refi surge and refi drop is getting stale. It is interesting to watch the numbers go up and down …indicative of the fact that there are still many on the sidelines waiting for a better rate to come by.
Chart Source Bloomberg
Some Stats from MBA Association
The Refinance Index increased 17.7 percent to 2009.4 from 1707.7 the previous week and the seasonally adjusted Purchase Index decreased 9.4 percent to 258.8 from 285.6 one week earlier.
The refinance share of mortgage activity increased to 54.9 percent of total applications from 48.4 percent the previous week.
he adjustable-rate mortgage (ARM) share of activity increased to 5.0 percent from 4.4 percent of total applications from the previous week.
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