Applications for Mortgages Up 7.5 Percent

Boston Globe (07/10/08)
The Mortgage Bankers Association reports that its applications index rose 7.5 percent to 513.4 in the week ended July 4, up from 477.7 a week earlier. The increase represents the second straight week that the loan volume has risen and suggests that some buyers are looking to return to the market to take advantage of lower home prices. The index of applications to purchase a home rose 6.7 percent to 365.8 from 342.8 a week ago, while the index to refinance a loan rose 8.7 percent to 1379.3 from 1269.2. Refi requests accounted for 37.3 percent of the application volume, up from 36.8 percent.