Mortgage applications soar

Published: Jan. 15, 2020 at 2:16 PM EST
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2020 starts off with a bang for mortgage business.

Total mortgage applications surged more than 30% last week, according to the Mortgage Banker's Association.

It was driven mostly by applications to refinance, which soared 43% on the week.

Home buyers also rushed in, sending purchase application volume up 16% for the week.

Purchase mortgage activity hit the highest level since october 2009.

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