MBA: Refinancing applications riseNews added by ProWEB Media on August 18, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

As interest rates hover near historic lows, applications for mortgage refinancing rose to a 15-month high.

In fact, in the week ended Aug. 13, the Mortgage Bankers Association's refinance index grew 17.1 percent -- a figure marking the highest level since May 15, 2009.

According to the MBA, this comes as a result of the 30-year mortgage averaging at a rate of about 4.5 percent -- a figure compared to 5.2 percent the year previous.
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