Mortgage applications rise in US
Applications last week up 1.1%
WASHINGTON
The average interest rate for 30-year mortgages in the US rose from 6.84% to 6.88% last week, while applications climbed 1.1%.
The Mortgage Bankers Association (MBA) announced mortgage data on Wednesday for the week ending June 20. Applications for home purchases fell 0.4%, while refinancing applications jumped 3%.
The average interest rate for 30-year mortgages in the country last week rose from 6.84% to 6.88%.
During the same period, the average interest rate for 15-year mortgages fell from 6.14% to 6.11%.
MBA Vice President Joel Kan said there was a slight decline in bond yields due to the conflicts in the Middle East, current economic conditions, and the impact of last week's Fed meeting.
Kan noted that mortgage interest rates had risen slightly but remained within the same narrow band, and that mortgage applications had climbed slightly overall due to the impact of refinancing applications.
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