MBA: Mortgage Apps Rise, Refis Fall

Mortgage applications rose 5.8 percent over the week, according to data gathered in the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. The MBA’s Refinance Index grew 4 percent, as well, while the Purchase Index grew 45 percent.
The refinance share of mortgage activity, however, decreased to 51.2 percent of total applications from 52.2 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 5.5 percent of total applicatio