WASHINGTON -- Mortgage applications in the U.S. rose last week as home purchases and refinancing increased.
The Mortgage Bankers Association’s (MBA) index climbed 3.4 percent in the week ended Feb. 1 after an 8.1 percent drop in the prior week, the Washington-based group reported Wednesday.
The refinance gauge advanced 3.5 percent, and the purchase index rose 2.2 percent.
The average rate on a 30-year fixed loan increased to 3.73 percent, the highest since the first week of September, from 3.67 percent.
The cost of a 15-year mortgage rose to 3 percent from 2.95 percent.
The share of applicants seeking to refinance a loan declined to 78.3 percent from 79.1 percent, Wednesday’s MBA report showed.
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