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- U.S. weekly mortgage applications increase 2.9 percent
U.S. weekly mortgage applications increase 2.9 percent
The Mortgage
Bankers Association (MBA) reported on Wednesday the mortgage application volume
in the U.S. rose 2.9 percent in the week ended September 4, following a 2.0
percent decrease in the previous week. That was the first weekly increase since
the week ended August 7.
According to
the report, refinance applications jumped 3.0 percent, while applications to
purchase a home grew 2.6 percent.
Meanwhile, the
average fixed 30-year mortgage rate edged down to 3.07 percent from 3.08
percent.
“There
continues to be resiliency in the purchase market,” noted Joel Kan, an MBA
economist. “The average loan size continued to increase, hitting a survey high
at $368,600. Highlighting the strong overall demand for buying a home,
conventional, VA and FHA purchase applications all increased last week.”
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