The Mortgage Bankers Association (MBAA) released their Weekly Mortgage Applications Survey for the week ending December 7, 2011. The weekly survey showed a significant increase in both purchase and refinance activity. Says Michael Fratantoni, MBA's Vice President of Research and Economics, “Coming out of the Thanksgiving holiday, applications increased significantly as mortgage rates dropped to their lowest levels in about two months. In particular, refinance applications increased sharply, with some lenders seeing refinance volume double..". For the complete press release from MBAA, click here.

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