Mortgage Bankers Association (MBA)

Refinance share reaches its highest level in two-and-a-half years

A slight drop in interest rates is expected to give the market a boost in the second half of the year.

Refinance applications up 85% year-over-year

Led by a drop in refinance activity from record-highs, applications decrease

Although revenue fell slightly, average production costs dropped by about $1,800 per loan.

Mortgage applications increased almost 17% for the week ending Aug. 9