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- U.S. weekly mortgage applications increase
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 1.5 percent in the week ended November 22, following a 2.2
percent drop in the previous week.
According to
the report, refinance applications surged 4.2 percent, while applications to
purchase a home declined 1.2 percent
Meanwhile, the
average fixed 30-year mortgage rate fell to 3.97 percent from 3.99 percent.
“Mortgage rates
stayed below 4% for the second straight week and borrowers responded
positively,” noted Joel Kan, MBA’s Associate Vice President of Economic and
Industry Forecasting. “Refinances have been strong this month, but we are
starting to see the average pace slow compared to the peak experienced in
August through October.”
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