U.S. MBA Mortgage Applications Index Increased 4.9%
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The number of mortgage applications in the U.S. increased for a fourth straight week, boosted by refinancing as borrowing costs reached record lows.
The Mortgage Bankers Association’s index rose 4.9 percent in the week ended Aug. 20, the Washington-based group said today. Refinancing climbed 5.7 percent to reach the highest level since May 1, 2009, while purchases gained 0.6 percent.