US MBA mortgage applications w.e. 2 May +11.0% vs -4.2% prior
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- Prior -4.2%
- Market index 248.4 vs 223.7 prior
- Purchase index 162.8 vs 146.6 prior
- Refinance index 721.0 vs 649.0 prior
- 30-year mortgage rate 6.84% vs 6.89% prior
That’s a modest rebound in mortgage applications as both purchases and refinancing activity jumped in the past week. The average rate of the most popular US home loan continues to stay elevated though, holding just under 7% after the surge higher in April.
This article was written by Justin Low at www.forexlive.com.
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