Thursday
September 18, 2014

Mortgage Applications End 5-Week Decline

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Mortgage Applications End 5-Week Decline

Following five weeks of declines, mortgage applications for refinancing and home purchases bounced back, rising 4.3 percent last week compared to the prior week, the Mortgage Bankers Association reports.

Broken out, applications for refinancing posted the first increase in weeks, rising 6.9 percent last week. Applications for home purchases — viewed as a leading indicator of future home sales — continued its steady rise last week, increasing 1.3 percent.

MBA reported that fixed 30-year mortgage rates averaged 4.47 percent last week, dropping 9 basis points from 4.56 percent a week prior.

Source: “U.S. Mortgage-Application Volume Up 4.3% Last Week, MBA Says,” The Wall Street Journal (April 16, 2014)

Read more:

Lower Rates Trigger Jump in Mortgage Applications