US mortgage applications rose last week: MBA
NEW YORK: Applications for US home mortgages rose last week for the first time in a month as interest rates tumbled even further, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 6.3 percent in the week ended Sept. 9 compared to the week before.
The MBA's seasonally adjusted index of refinancing applications gained 6.0 percent, while the gauge of loan requests for home purchases climbed 7.0 percent.
The refinance share of mortgage activity rose to 77.3 percent of total applications from 77.1 percent.
Fixed 30-year mortgage rates averaged 4.17 percent in the week, down from 4.23 percent.
Copyright Reuters, 2011
Comments
Comments are closed for this article.