The MBA, Mortgage Banker Association, has reported that both refinances and home purchases have jumped by 12.8 percent for the week of December 2, according to their seasonally adjusted index of mortgage activity.
Refinances lead over purchases with a rise in 15.3 percent and 8.3 percent, respectively. The share of refinances within all mortgage activities has gone up to 76 percent versus 73.9 percent from the week prior. These statistics come from the MBA survey of over 75 percent of U.S. retail residential mortgage applications.
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