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- U.S. weekly mortgage applications climb 6.8 percent
U.S. weekly mortgage applications climb 6.8 percent
The Mortgage
Bankers Association (MBA) reported on Wednesday the mortgage application volume
in the U.S. surged 6.8 percent in the week ended September 18, following a 2.5
percent decline in the previous week.
According to
the report, refinance applications jumped 8.8 percent, while applications to
purchase a home increased 3.4 percent.
Meanwhile, the
average fixed 30-year mortgage rate rose to 3.10 percent from 3.07 percent.
“Mortgage
applications activity remained strong last week, even as the 30-year fixed-rate
mortgage and 15-year fixed-rate mortgage increased to their highest levels
since late August,” noted Joel Kan, an MBA economist. “Both conventional and
government refinance activity, and in particular FHA refinances, picked up last
week.”
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