Mortgage Refinance Applications Increase for the week ending February 26, 2010

Mortgage Refinance Applications Increase for the week ending February 26, 2010The Mortgage Bankers Association (MBA) said in its latest report that the Market Composite Index increased 14.6 percent on a seasonally adjusted basis from one week earlier.

“Mortgage applications rebounded last week, particularly refis, as rates dropped back below 5 percent,” said Michael Fratantoni, MBA’s Vice President of Research and Economics. “Purchase activity remains subdued, with application volumes remaining within the narrow range seen in the last few months.”

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