Mortgage Applications Highest in Three Years

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"Mortgage applications increased 18% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 8.

The Market Composite Index, a measure of mortgage loan application volume, increased 18% on a seasonally adjusted basis from one week earlier to the highest level since May 2009.  On an unadjusted basis, the Index increased over 30% compared with the previous week.  The Refinance Index increased over 19% from the previous week to the highest index level since April 2009." 

MP: More evidence that the real estate market is making consistent gains, and in a gradual recovery mode.