US mortgage applications up 10.4% - Breaking The News

US mortgage applications up 10.4%

17 January

1 min read

Mortgage applications in the United States rose 10.4% on a seasonally adjusted basis compared to the week ending January 12, the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey showed on Wednesday.

The average contracted interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) fell from 6.81% to 6.75%.

"Mortgage rates declined across all loan types as Treasury yields moved lower last week on incoming inflation data, which helped to support a rise in mortgage applications," Joel Kan, MBA's Vice President and Deputy Chief Economist, said.

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