Washington Business Journal Reports: Refinances are up?

Wednesday, July 7, 2010, 12:19pm EDT  |  Modified: Wednesday, July 7, 2010, 2:45pm

Mortgage refinancing jumps to highest in a year

 Washington Business Journal - by Jeff Clabaugh

The number of applications to refinance an existing mortgage jumped to the highest level in more than a year last week, even as home sales slow, according to the D.C.-based Mortgage Bankers Association.
The trade group’s weekly report says overall mortgage applications rose 6.7 percent last week. Applications for purchases fell 2 percent from the previous week, while applications for refinancing rose 9.2 percent. Refinance applications reached the highest level since May 15, 2009, the Mortgage Bankers Association said.

Read more: Mortgage refinancing jumps to highest in a year - Washington Business Journal