Mumbai, May 9 -- Mortgage applications in the U.S. saw a notable rebound in the week ended May 3rd, according to a report released by the Mortgage Bankers Association on Wednesday.
The MBA said the Market Composite Index, a measure of mortgage loan application volume, surged 2.6 percent last week after tumbling by 2.3 percent in the previous week.
The report said the Refinance Index spiked by 5 percent from the previous week but was 6 percent lower than the same week one year ago.
The Purchase Index also jumped by 2 percent compared with the previous week but was 17 percent lower than the same week one year ago.
Published by HT Digital Content Services with permission from Capital Market....