More on MBA mortgage applications: The seasonally adjusted purchase index rose 2% last week to...

|By:, SA News Editor

More on MBA mortgage applications: The seasonally adjusted purchase index rose 2% last week to the highest level since May 2010. The refinance index rose 4%. From Bill McBride is this longer-term chart. Like Nikkei 38K, purchase activity may never get back to the bubble levels, but it looks to be returning to a healthy pace.