WASHINGTON -- Mortgage applications in the U.S. climbed last week as a decline in borrowing costs prompted more Americans to refinance their homes.
The Mortgage Bankers Association’s index increased 4.5 percent in the period ended Nov. 30, the Washington-based group reported Wednesday.
The refinance index rose 6.1 percent and the gauge of home purchases advanced 0.1 percent.
The average contract rate on a 30-year fixed loan eased to 3.52 percent from 3.53 percent, matching the record low reached in early November.
The average on a 15-year mortgage dropped to 2.86 percent from 2.89 percent a week earlier.
Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.
SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.
All contents herein copyright San Diego Source ® 1994-2016