Homebuyers fuel mortgage volume rise
Mortgage volume is starting to rise again, and homebuyers are fueling the increase. Total mortgage application volume, including for refinancings and home purchases, rose 2.4 percent last week on a seasonally adjusted basis, according the Mortgage Bankers Association.
Homebuyers are seemingly undeterred by higher home prices and the limited number of homes for sale. Mortgage applications to buy a home increased 2 percent last week, and are now 6 percent higher than a year ago.
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