Lower mortgage rates boosted demand for mortgage applications last week, especially for homeowners looking to refinance existing loans. The Mortgage Bankers Association’s seasonally adjusted index of total mortgage application activity rose 9.5% last week to 496.2, the highest level since mid-July. The Association's refinancing application index jumped 15.4%. Its measure of home purchase loan requests rose 6.4%.

-- “Mortgage Relief For Housing Market,” by Ruthie Ackerman, Forbes, Sept. 10, 2008.