After three straight weeks of declines, mortgage applications increased 4.2% for the week ending June 11, 2021, according to the latest report from the Mortgage Bankers Association.

Both purchase and refinance applications increased, with refinances notably up 5.5%, according to Joel Kan, the MBA’s vice president of economic and industry forecasting.

“The jump in refinances was the result of the 30-year fixed rate falling for the third straight week to 3.11%, which is the lowest since early May,” Kan said. “U.S. Treasury yields have slid because of the uncertainty in the financial markets details ⇒

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