Mortgage applications jumped by 18 percent from the week earlier, riding a refinance wave to numbers not seen since 2009, according to the ""Mortgage Bankers Association"":http://www.mbaa.org/default.htm (MBA). The trade group found that the Refinance Index climbed up by over 19 percent from the week before, reaching the highest level for an index since April 2009. The refinance share of mortgage activity soared to 79 percent of total volume. He added that loans refinanced through the Home Affordable Refinance Program steadied in recent weeks.
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