Refinancing share of U.S. mortgage activity smallest since 2008: MBA

The share of U.S. mortgage refinancing activity contracted last week to its smallest in more than 8-1/2 years amid a jump in home borrowing costs this year, Mortgage Bankers Association data released on Wednesday showed. The refinance share of overall mortgage activity fell to 41.6 percent in the week ended April 7, the lowest level since September 2008. It was 42.6 percent in the previous week.

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Source: Reuters

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