Radian Group (RDN)

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MBA: Mortgage Applications Increase, Purchase Index highest since May 2010

Wednesday, April 24, 2013

The Refinance Index increased 0.3 percent from the previous week. The seasonally adjusted Purchase Index increased 0.3 percent from one week earlier to the highest level since May 2010.
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The HARP share of refinance applications increased from 31 percent last week to 32 percent this week, the highest level since MBA began tracking HARP applications in February 2012.

There has been a sustained refinance boom for over a year. (No one knows that better than our friend EI).

According to the MBA, the HARP program is contributing significant to the current level of refis.

[....]

<click on link below>

The first graph shows the refinance index.

The second graph shows the MBA mortgage purchase index. The 4-week average of the purchase index has generally been trending up over the last year, and the purchase index last week was at the highest level since May 2010.

http://www.calculatedriskblog.com/2013/04/mba-mortgage-applications-increase_24.html