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Mortgage Applications Lift With Second Strong Bounce In Refis

US DATA
  • MBA composite mortgage applications increased a strong 7.4% last week, as refis jumped 19.4% whilst purchase applications increased 3.5%.
  • Refi applications have surged 36% over the past two weeks to push back to levels last seen in July (but it’s all relative being some 25% of 2019 average levels).
  • It came as the 30Y conforming rate fell a further 10bps to 7.07%, down from the 7.9% peak in late October for its lowest since late July.

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