General World News

Mortgage applications rise again, despite rates jump

For the second week in a row, mortgage applications increased — this time, up 2.1% for the week ending June 18, 2021, per the latest report from the Mortgage Bankers Association.

The 30-year fixed mortgage rate also rose to 3.18% — the highest level in a month, according to the MBA. Purchase activity was higher for the third straight week, according to Joel Kan, MBA’s vice president of economic and industry forecasting.

“Despite the jump in rates, refinances also increased for the second consecutive week, pushed higher by a 4% bump in conventional refinance applications,” Kan details ⇒

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