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Mortgage Loan Applications are Up
| The Market Composite Index of mortgage loan applications, a measure of mortgage loan applications for purchases and refinancings, for the week ending July 11 increased to 1,358.2 on a seasonally adjusted basis from 1,346.3 one week earlier, according to the most recent survey by the Mortgage Bankers Association of America (MBA) released today. On an unadjusted basis, the Index increased by 26.4 percent for the week ending July 11 and was up 85.8 percent compared with the same week a year earlier. The refinancing share of mortgage activity decreased to 70.1 percent of total applications for the week ending July 11 compared to 72.1 percent the previous week. The ARM share of activity increased to 15.4 percent for the week ending July 11 from 13.6 percent the previous week |