US mortgage applications rise 3.2%
By Iain Gilbert
Date: Wednesday 14 Dec 2022
(Sharecast News) - US mortgage applications rose 3.2% in the week ended 9 December, the first gain in three weeks and the highest increase since September.
According to the Mortgage Bankers Association of America, the purchase index increased 4% month-on-month, while the refinancing one jumped 2.8%.
The increase comes as the 30-year mortgage rate edged up by one basis point to 6.42% but managed to hold close to levels not seen in roughly three months.
MBA economist Joel Kan said: "The ongoing moderation in home-price growth, along with further declines in mortgage rates, may encourage more buyers to return to the market in the coming months."
Reporting by Iain Gilbert at Sharecast.com
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