General World News

Mortgage applications rebound following drop in rates

After six consecutive weeks of dips, mortgage applications rose 8.6% in the latest report from the Mortgage Bankers Association.

The jump in applications can be traced to mortgage rates falling to the lowest level in two months, prompting a small resurgence in refinance activity, said Joel Kan, MBA associate vice president of economic and industry forecasting.

“Borrowers acted on the decrease in rates for most loan types, with both conventional and government refinance applications showing gains,” Kan. “The spring housing market also saw a boost details ⇒

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