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Real Estate Listings and Lower Rates Spur Mortgage Application Jump

Mortgage News > Real Estate Listings and Lower Rates Spur Mortgage Application Jump
Date: 07/11/2018    Real Estate Listings and Lower Rates Spur Mortgage Application Jump

More homebuyers applied for mortgage loans in the latest week, aided by lower interest rates and a slower decline in real estate listings. The Mortgage Bankers Association reported that home purchase loan applications rose 7 percent from the previous week. At the same time, the average interest rate on a 30-year fixed-rate mortgage fell to 4.76%, down from 4.79% the week before.

Meanwhile, refinance mortgage applications fell 4% from the prior week. Refinance requests made up just 34.8% of total applications, falling to the lowest share in 10 years. 

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