Mortgage applications rebounded sharply last week as homebuyers returned to the market

Applications to purchase a home increased 6% from the previous week, according to a Wednesday reading of the Mortgage Bankers Association’s seasonally adjusted index. The index is only 1.5% lower than it was at last year, a sharp rebound as it was down 35% on the year just six weeks ago.  Still, refinancing applications slid 6% on the week, even with record low mortgage rates.  “With many homeowners still facing economic and employment uncertainty, these refinance opportunities will allow them to save money on their monthly payments, which can then be used to help other areas of