• News
  • SAN DIEGO
  • Real Estate

Mortgage apps rise

WASHINGTON -- Mortgage applications in the U.S. rose last week by the most in five months as borrowing costs near a one-year low spurred purchases and refinancing.

The Mortgage Bankers Association’s (MBA) index increased 10.3 percent in the period ended June 6, the biggest gain since the week ended Jan. 10, after falling 3.1 percent in the prior week, the Washington-based trade group reported Wednesday.

The refinancing gauge climbed 11 percent, also the strongest advance in five months, while the measure of purchase applications rose 9.3 percent, the biggest gain since the end of February.

The share of applicants seeking to refinance climbed to 53.6 percent from 52.7 percent the prior week, the MBA’s report showed.

The average rate on a 30-year fixed loan rose to 4.34 percent from the prior week’s 4.26 percent, which was the lowest since June 2013.

The average rate on a 15-year mortgage increased to 3.43 percent from 3.39 percent.

Leave Your Comment

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.

User Response
0 UserComments

Leave Your Comment

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.