The Mortgage Bankers Association reported a 13.5% jump in the Refinance Index to ~3935 for the week ending April 13. This is its highest level since the week ending March 9.

In addition, refinancing share as a percent of total applications rose to 75.2%, its highest level since early March, after dropping to its lowest share since last July at 70.5%. A bigger response was anticipated in part because the prior week's data was not adjusted for the Good Friday holiday, as well as, due to a decline in mortgage rates back near record lows.

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