Mortgage rate decline drives Composite and Refinance index higher

• MBA Mortgage Applications
• Composite Index: +2.7% vs. -1.0% last week.
• Purchase Index: -2.0.% vs. +2.0%.
• Refinance Index: +7.0% vs. -3.0%
• 30 year mortgage rate at 3.86% vs. 3.94%.
• ETFs: MORL, REM, MORT, TSI, DMO, BOI, FMY, JLS, CMBS, JMT, LMBS, MBSD, PGZ