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Mortgage originations are still finding much of their strength in the refinance sector even during those weeks when rates increase. The Mortgage Bankers Association (MBA) said the volume of mortgage applications increased last week even as purchase mortgage volume declined. MBA's Market Composite Index, a measure of mortgage loan application volume, increased 1.2 percent on a seasonally adjusted basis during the week ended May 14 and rose 1.0 percent before adjustment. The Refinance Index rose for the second straight week , increasing 4 percent although it was down 2 percent compared to the same week one year ago. The refinance share of mortgage activity increased to 63.3 percent of total applications from 61.3 percent during the week ended May 7. Both the seasonally adjusted and the unadjusted
Rob Chrisman
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There are some who firmly believe that the Hubble Telescope was sent into space to spy on us. These people are better advised to wonder what Google is up to, without having a telescope. Mr. Cooper and Google Cloud are partnering to create a “cu... (read more)
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Housing News
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Mortgage originations are still finding much of their strength in the refinance sector even during those weeks when rates increase. The Mortgage Bankers Association (MBA) said the volume of mortgage applications increased last week even as purchase m... (read more)
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Housing News
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Housing starts fell back from the annual rate of 1,733,000 units reported for March. Residential starts in April were down 9.5 percent to a seasonally adjusted annual rate of 1,569,000 units. This was also a slight rollback for the March estimate, wh... (read more)
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