US mortgage applications surge 6.3pc week-on-week
By Iain Gilbert
Date: Wednesday 27 Nov 2024
(Sharecast News) - US mortgage applications surged 6.3% in the week ended 22 November, according to the Mortgage Bankers Association of America, building on the prior week's 1.7% increase.
Last week's increase marked the sharpest increase in mortgage applications in two months, principally due to benchmark mortgage rates easing off somewhat.
Applications to purchase a home soared 12% week-on-week, while those to refinance an existing home loan fell by 3% against the previous week.
Reporting by Iain Gilbert at Sharecast.com
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