- Prior +1.4%
- Market index 266.8 vs 233.7 prior
- Purchase index 146.1 vs 138.6 prior
- Refinance index 941.4 vs 757.8 prior
- 30-year mortgage rate 6.15% vs 6.29% prior
A further drop in the average rate of the most popular US home loan sparked a big jump in refinancing activity in the past week. And that led to the surge in mortgage applications, also helped by a slight bump in purchases activity. Recovery time?