US mortgage applications rise 5.3%
By Iain Gilbert
Date: Wednesday 12 Apr 2023
(Sharecast News) - US mortgage applications rose 5.3% in the week ended 31 March, according to the Mortgage Bankers Association of America, bouncing back from the prior week's 4.1% drop.
Applications to purchase a home surged 7.8%, while those to refinance a home loan rose just 0.1%.
On another note, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell ten basis points to 6.3% - a fifth consecutive weekly decline and the lowest level since early February
Reporting by Iain Gilbert at Sharecast.com
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