WASHINGTON -- Mortgage applications in the United States rose for a third consecutive week as a drop in mortgage rates spurred a pickup in refinancing.
The Mortgage Bankers Association’s (MBA) index climbed 4.7 percent in the period ended Jan. 17, to reach the highest level in almost two months, the Washington-based trade group reported Wednesday.
The refinance measure advanced 9.9 percent, while the purchase gauge declined 3.6 percent from a seven-week high.
The average rate on a 30-year fixed loan fell to 4.57 percent from 4.66 percent the previous period.
The average rate on a 15-year mortgage dropped to 3.68 percent from 3.72 percent.
The share of applicants seeking to refinance increased to 64.1 percent from 62.3 percent in the previous period, according to the report.
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