US MBA Mortgage Applications See 7.1% Surge in Weekly Report
US MBA Mortgage Applications Report:
The latest US MBA mortgage applications report shows a 7.1% increase, slightly below the prior period's growth of 9.7%. The market index stood at 201.5, up from the previous 188.2. Purchase index rose to 147.7 from 141.1, and the refinancing index surged to 480.3 from 428.1. The 30-year mortgage rate dropped to 6.84% from 7.02%, leading to increased purchase and refinancing activities. This positive trend signals a rebound in mortgage applications following a slow start to the year.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.