Tags: mortgage | home loan | refinance | economy

Mortgage Applications Rose Last Week as Refinancing Climbed

Wednesday, 20 Aug 2014 07:53 AM

Mortgage applications increased last week as Americans took advantage of falling interest rates to refinance their loans.

The Mortgage Bankers Association’s index rose 1.4 percent in the period ended Aug. 15 after declining 2.7 percent in the prior period, the Washington-based trade group reported.

The refinancing gauge climbed 2.7 percent, while the measure of purchase applications dropped 0.4 percent, its third straight weekly decrease.

The share of applicants seeking to refinance rose to 55.1 percent, the highest level since the period ended March 14, from 54 percent the week before, the report showed.

The average rate on a 30-year fixed loan was 4.29 percent, down from 4.35 percent the week before and the lowest level in seven weeks. The average rate on a 15-year mortgage fell to 3.44 percent from 3.48 percent, its biggest drop since the end of June.

© Copyright 2017 Bloomberg News. All rights reserved.

   
1Like our page
2Share
Personal-Finance
Mortgage applications increased last week as Americans took advantage of falling interest rates to refinance their loans.The Mortgage Bankers Association's index rose 1.4 percent in the period ended Aug. 15 after declining 2.7 percent in the prior period, the...
mortgage, home loan, refinance, economy
140
2014-53-20
Wednesday, 20 Aug 2014 07:53 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved