"U.S. mortgage applications dropped last week, as a jump in home loan rates sapped demand for refinancing, the Mortgage Bankers Association said Thursday.
Average 30-year mortgage rates leaped 0.35 percentage points in the week ended Jan. 16 to 5.24%, after touching the lowest level in the history of the trade group's survey, which dates to 1990.
A spate of applications when the rate for 30-year fixed mortgages hit 4.89% the prior week had propelled the refinancing index to a 5-1/2-year peak."
Click below to read more...
Mortgage applications drop as rates rebound
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment