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- U.S. weekly mortgage applications increase
U.S. weekly mortgage applications increase
The Mortgage
Bankers Association (MBA) reported on Wednesday the mortgage application volume
in the U.S. rose 0.6 percent in the week ended October 25, following an 11.9
percent plunge in the previous week.
According to
the report, applications to purchase a home climbed 2.3 percent, while refinance
applications declined 0.5 percent.
Meanwhile, the
average fixed 30-year mortgage rate edged up to 4.05 percent from 4.02 percent.
“The 10-year
Treasury rate rose slightly last week, as markets expected more progress toward
a trade deal between the U.S. and China,” noted Joel Kan, the MBA’s associate
vice president of economic and industry forecasting.
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