Mortgage Purchase Applications Top 9-Year High


The number of home purchase mortgage applications rose to its highest level since April 2010, according to the Mortgage Bankers Association.

Home purchase requests rose 1% in the latest week and 7% compared with last year. Refinance applications, however, declined 8% in the past week but rose 26% on a yearly basis. With mortgage interest rates climbing for the last two weeks, the share of refinance requests fell to 41.5% of all mortgage applications.