US MBA Mortgage Applications See 7.1% Surge in Weekly Report

Wednesday, 13 March 2024, 11:00
The US MBA mortgage applications increased by 7.1% in the latest report, although slightly lower than the prior period's growth of 9.7%. Key market indices show positive movements, with the purchase index and refinancing index both rising. The lower 30-year mortgage rate contributed to the resurgence in both purchases and refinancing activities, signaling a positive trend in mortgage applications following a slow start to the year.
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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.

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