The AFS Title Search Index rose 5.6% to 211.2 for the week ended June 5 from a holiday-adjusted 200.0 for the week ended May 29, according to Advance Factor Service.The index averaged 204.9 over the previous four weeks, down 2.0 points from the prior week's four-week moving average. A year ago, the index stood at 150.6, 71.3% of the current level. "The continued increase in fixed-rate mortgage affordability by some 15 [basis points] over the past three weeks is helping prop up sagging title search activity," said AFS manager Paul Descloux. "This latest bump up in activity points to a continuation of 1998's current refinance wave."
Processing Content
