OriginationNews says according to new figures compiled by the Mortgage Bankers Association (MBA), mortgage applications in New York and Connecticut shot up 60 percent for the week ending Nov. 9, while in New Jersey applications doubled. The first week of Hurricane Sandy apps dropped five percent nationwide, while they plunged 40-60 percent in the same three states. Nationwide, mortgage applications for the week of Nov. 9 climbed 12.6 percent, while refinancings as part of the business rose from 80 to 81 percent. Covering 75 percent of all mortgage lenders in the country, MBA says 30-year average fixed-rate conventional mortgages dropped to 3.52 percent for the week. As MHProNews has learned, that fell from 3.61 percent for the week ending Nov. 2.

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