Mortgage Applications Rise

The Mortgage Bankers Association released a report stating that applications for home mortgages rose last week as demand for refinancings and new home loans jumped. Applications rose 11.1% in the wee that ended on September 7th, according to the report. Refinancing applications rose 11.9% while home sales rose 8.1%.

The refinancing share of total mortgage activity rose to 80% from 79% last week.