General World News

Just before the shockwave, mortgage applications rose

Before the volatility wrought by high inflation and speculation about a rate hike by the Federal Reserve, mortgage applications increased 6.6% from the prior week, according to the latest Mortgage Bankers Association survey for the week ending June 10.

Refinancing applications increased 4% from the prior week but were still 76% lower than the same week a year prior. The seasonally adjusted purchase index, meanwhile, ticked up 8% from the prior week but was 16% down from the same week a year ago.

“Mortgage rates increased for all loan types, with the 30-year fixed rate last week jumping 25 basis details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com