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MBA: Mortgage Requests Steady as Borrowing Costs Hit 4-Year High

MBA: Mortgage Requests Steady as Borrowing Costs Hit 4-Year High
(Olivier-Le-Queinec/Dreamstime)

Wednesday, 07 March 2018 10:04 AM

U.S. mortgage applications held steady last week even as interest rates on 30-year fixed-rate home loans edged up to their highest level in four years, the Mortgage Bankers Association said on Wednesday.

The Washington-based industry group said its index on filings to lenders and banks to buy a home and to refinance an existing one was up 0.3 percent to 384.1 in the week ended March 2.

The Refinance Index increased 2 percent from the previous week. 

The refinance share of mortgage activity remained unchanged from the previous week at 41.8 percent of total applications.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($453,100 or less) increased to its highest level since January 2014, 4.65 percent, from 4.64 percent.

The average contract interest rate for 15-year fixed-rate mortgages increased to its highest level since April 2011, 4.11 percent, from 4.07 percent.

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U.S. mortgage applications held steady last week even as interest rates on 30-year fixed-rate home loans edged up to their highest level in four years, the Mortgage Bankers Association said on Wednesday.
mortgage, borrowing, home, loan, housing, mba
146
2018-04-07
Wednesday, 07 March 2018 10:04 AM
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