economic data: Mortgage Applications Up, Rates Down
- 05/20/15 05:00 AM
According to the Mortgage Bankers Association (MBA)'s report on mortgage application activity, mortgage applications increased by 4.6 percent week-over-week during the week ending March 27. This increase followed close on the heels of a 9.5 percent week-over-week rise the week before, indicating that spring is getting off to a strong start with respect to mortgage activity. Those who participated in last week's application surge were in luck, as average mortgage rates were slightly lower last week than the week before. The average interest rate on a 30-year fixed-rate mortgage dropped to 3.89 percent from 3.90 percent, and the average rate for a … (2 comments)
According to the Mortgage Bankers Association (MBA)'s report on mortgage application activity, mortgage applications increased by 4.6 percent week-over-week during the week ending March 27. This increase followed close on the heels of a 9.5 percent week-over-week rise the week before, indicating that spring is getting off to a strong start with respect to mortgage activity.
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