Purchase apps up nicely again.
Seems to be replacing “all cash” buyers.
MBA Mortgage Applications
The purchase index had been dead flat all year but is now moving higher and quickly in what is the latest positive sign out of the housing sector. Mortgage applications for home purchases surged for a 3rd week, up 7.0 percent in the April 3 week to the highest level since July 2013. Year-on-year, the index is up a very strong 12.0 percent.
The refinancing index, which had also risen sharply in the prior 2 weeks, fell back 3 percent in the latest week. Low rates are a key factor boosting demand with the average 30-year mortgage for conforming loans ($417,000 or less) down 3 basis points in the week to 3.86 percent.