Monday, July 14, 2014

U.S. mortgage applications rise in latest week

Applications for mortgages for homes in the U.S. rose last week due to increased purchases and orders by refinancing, reported Wednesday a group of industry.

The Mortgage Bankers Association (MBA, for its acronym in English) said its seasonally adjusted index of mortgage application activity, which includes both refinancing demand as home purchases, rose 1.9% in the week ended July 4 .

The seasonally adjusted index of refinancing applications rose 0.4% MBA, while orders for loans to buy homes, a leading indicator of sales, rose 3.7 percent.

The 30-year mortgage rates averaged 4.32% for the week, basic four points more than the 4.28% in the prior week.

The survey covers over 75% of retail residential mortgage applications in the U.S., according to the MBA.

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