US mortgage applications start March with 11.2pc surge
By Iain Gilbert
Date: Wednesday 12 Mar 2025
(Sharecast News) - US mortgage applications surged 11.2% in the week ended 7 March, according to the Mortgage Bankers Association of America.
Last week's increase extends the seven-week high surge of 20.4% in the last week of February and comes in line with another decrease in benchmark mortgage rates as fears of a potential US recession kept yields on asset-backed securities in check.
Applications to refinance a mortgage soared by 16%, while applications to purchase a new home were up by 7%.
Reporting by Iain Gilbert at Sharecast.com
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