The Real Deal Miami

Mortgage applications up sharply after holidays; rates inch up

January 09, 2013 03:00PM

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The number of mortgage applications for the week ending January 4, 2013 increased 11.7 percent on a seasonally adjusted basis from the week ending December 28, 2012, the Mortgage Bankers Association announced today. On an unadjusted basis, the Index increased 49 percent compared with the previous week. The results include an adjustment to account for the New Year’s Day holiday. The Refinance Index increased 12 percent from the previous week and is up less than 1 percent from two weeks ago, the week prior to the holidays. The seasonally adjusted Purchase Index decreased increased 10 percent from last week but is still down 2 percent from two weeks ago, the week prior to the holidays. Unadjusted, the Purchase Index increased 49 percent and was 8 percent lower than the same week one year ago. [more]

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