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Rates Fall, More People Refi, Purchase Mortgage Volume Remains Near Record High, Annoying Naysayers

Well, the mortgage business got a small dose of good news this week, but its only one week so don’t get too excited.

I didn’t mean to glom both charts from Calculated Risk [1] (who has the best looking charts on the web) for this post but they were so good I just had to.

Refi mortgage applications were up [MBA] [2] over last week. Here’s a few other interesting stats (covers 50% of all US retail mortgage originations):

What was also really interesting was yet another chart by Calculated Risk [1] who tracked the purchase mortgage index for the past 9 years on the third week of January. The results showed the purchase mortgage volume remains at high levels on an historical basis.