30-year mortgage rate falls to 6.93% from 6.94% (Il Sole 24 Ore Radiocor) - New York, 26 Jun - Mortgage applications in the US rose 0.8% on a seasonally adjusted basis from one week ago, according to data from the Mortgage Bankers Association (MBA) for the week ending June 21.

The Refinance Index was unchanged from the previous week, and was 26% higher from a year ago.

The seasonally adjusted Purchase Index rose 1% from a week earlier while the unadjusted Purchase Index fell 10% from a week earlier.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances (766,550 dollars or less) fell to 6.93% from 6.94%.

'Mortgage rates were mostly lower last week, with the 30-year fixed rate declining slightly to 6.93 percent, the lowest level in more than three months,' said Joel Kan, MBA's vice president and deputy chief economist. 'Lower rates, however, were still not enough to entice refinance borrowers back, as most continue to hold mortgages with considerably lower rates.'.

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(RADIOCOR) 26-06-24 14:48:52 (0433) 5 NNNN