30-year mortgage rate falls to 6.44% from 6.50% (Il Sole 24 Ore Radiocor) - Washington, 28 Aug - Mortgage applications in the US rose 0.5% on a seasonally adjusted basis from one week ago, according to data from the Mortgage Bankers Association (MBA) for the week ending August 23.

The Refinance Index decreased 0.1% from the previous week, and was 85% higher from a year ago.

The seasonally adjusted Purchase Index rose 1% from a week earlier while the unadjusted Purchase Index fell 1% from a week earlier.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances (766,550 dollars or less) decreased to 6.44% from 6.50%.

'Mortgage rates declined for the fourth consecutive week, with the 30-year fixed rate at 6.44 percent, the lowest since April 2023. Rates have now come down more than 80 basis points from a year ago,' said Joel Kan, MBA's Vice President and Deputy Chief Economist.

AAA-Sje

(RADIOCOR) 28-08-24 18:41:17 (0484) 5 NNNN