Mortgage rates slide, mortgage applications rise

//Mortgage rates slide, mortgage applications rise

Mortgage rates slide, mortgage applications rise

Good news!

According to the Mortgage Bankers Associatio (MBA), applications for U.S. home mortgages rose last week as mortgage rates continued to slide, bringing the mortgage applications activity to a 17-month high for a second week in a row.

The seasonally adjusted index of mortgage application activity of the MBA, which includes refinancing and home purchase demand, rose 14.2 percent in the week ended Jan. 16.

However, the measurement of loan requests for home purchases, a leading indicator of home sales, dipped 2.5 percent after reaching its highest level since September 2013 earlier this month.

Fixed 30-year mortgage rates averaged 3.8 percent in the week, the lowest level since May 2013.

By | 2017-01-24T12:19:38+00:00 January 21st|Categories: Mortages|Comments Off on Mortgage rates slide, mortgage applications rise