July 19, 2017 / 1:23 PM / in 2 years

U.S. mortgage refinancing posts biggest rise in a year: MBA

NEW YORK (Reuters) - U.S. applications for home refinancing recorded their biggest weekly increase in a year, reversing previous week’s drop which was the steep decrease since December, Mortgage Bankers Association data released on Wednesday showed.

The Washington-based group’s seasonally adjusted gauge on mortgage refinancing activity rose 13 percent to 1,367.8 in the week ended July 14. It was the biggest weekly increase since a nearly 21 percent gain in the July 1, 2016 week.

Reporting by Richard Leong

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