Mortgage Applications Finally Rise Again

After three weeks of gradual declines in the number of purchase and refinance applications tracked by the Mortgage Bankers Association (MBA), the MBA’s Weekly Application Survey revealed that mortgage applications increased by 6.3% from one week earlier. And what are the recent interest rate trends? The MBA reports that “the average interest rate for a 30-year fixed mortgage slid to 4.17% last week from 4.23% a week prior. The average rate for a 15-year fixed mortgage rate inched down to 3.4% from 3.41%.”

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