US Mortgage Applications rise in the current week
On the back of lower rates and lower prices (and tax benefit for new home buyers), the Mortgage Applications rose by 5.6% in the current week. Within that number the Purchase index rose 3.9% while the Refinance index rose by 6.9%. The average rate on a 30 year mortgage fell to 5.15% from 5.37% last week. One year ago the average rate was 6.47%.




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