The AFS Title Search Index rose 0.4% to 210.2 for the week ended Aug. 7 from 209.2 the previous week, according to Advance Factor Service.The index averaged 213.1 over the previous four weeks, down 2.6 points from the prior week's four-week moving average. A year ago, the index stood at 167.4, 79.7% of the current level. "Current mortgage rates continue to bolster title searches as a steady stream of mortgagors continue to exercise their refinance option," said AFS manager Paul Descloux. "Look for a continuation of the current pace of title searches as mortgage rates remain near their lows for this refinance cycle." Mr. Descloux's e-mail address is paul.descloux@cor.dowjones.com.
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