Home refinancing activity reached a peak for this year in mid-August, according to a weekly survey by the Mortgage Bankers Association.
The Market Composite Index, a measure of mortgage loan application volume, increased 13 percent on a seasonally adjusted basis from one week earlier in the Aug. 13 survey. On an unadjusted basis, the index increased 12.4 percent compared with the previous week.
The group's refinance index increased 17.1 percent from the previous week and was the highest in the survey since the week ending May 15, 2009.
Refinancing activity in Wichita makes up almost 80 percent of the mortgage market, lenders said earlier this summer.