US mortgage applications rise 0.5%
By Iain Gilbert
Date: Wednesday 15 May 2024
(Sharecast News) - US mortgage applications rose 0.5% in the week ended 10 May, according to the Mortgage Bankers Association of America, following on from a 2.6% jump in the previous week.
Last week's drop comes alongside a 10 basis point reduction in the average mortgage.
Applications to refinance a mortgage jumped by 5% from the previous week, while applications to purchase a home dropped by 2%.
Reporting by Iain Gilbert at Sharecast.com
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