Refinances boost mortgage applications last week

Despite a demand in purchase mortgages, refinance loans pushed total mortgage applications higher last week according to the Mortgage Bankers Association.

The MBA’s seasonally adjusted mortgage application index rose 3.8 percent overall for the week eding October 26th. The refinancing index jumped 9.2 percent while purchase loan index declined 0.7 percent.

You can read more about mortgage applications at CNBC.