Mortgage Applications Rise
Mortgage Applications Rise
The Mortgage Bankers Association reported Wednesday that requests for home loans in the US rose last week for the first time in four weeks as interest rates remained at or near record-low levels. The group's seasonally adjusted index of mortgage application activity, which measures demand for both purchase loans and refinancing, rose 6.3 percent during the week ended September 9th.
The MBA said that gains were made in both categories, as its index of refinance requests rose 6.0 percent and the gauge of purchase mortgage demand rose 7.0 percent. The percentage of all loan requests accounted for by refinancing applications, meanwhile, climbed to 77.3 percent, up from 77.1 percent in the week prior. The average rate for a 30-year, fixed-rate mortgage during the week was 4.17 percent, down from 4.23 percent in the previous week.
The Mortgage Bankers Association reported Wednesday that requests for home loans in the US rose last week for the first time in four weeks as interest rates remained at or near record-low levels. The group's seasonally adjusted index of mortgage application activity, which measures demand for both purchase loans and refinancing, rose 6.3 percent during the week ended September 9th.
The MBA said that gains were made in both categories, as its index of refinance requests rose 6.0 percent and the gauge of purchase mortgage demand rose 7.0 percent. The percentage of all loan requests accounted for by refinancing applications, meanwhile, climbed to 77.3 percent, up from 77.1 percent in the week prior. The average rate for a 30-year, fixed-rate mortgage during the week was 4.17 percent, down from 4.23 percent in the previous week.
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