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US mortgage applications rise 1.6% in latest week
30-year mortgage rate falls to 6.43% from 6.44% (Il Sole 24 Ore Radiocor) - Washington, 04 Sep - Mortgage applications in the US rose 1.6% on a seasonally adjusted basis from one week ago, according to data from the Mortgage Bankers Association (MBA) for the week ending August 30.
The Refinance Index decreased 0.3% from the previous week, and was 94% higher from a year ago.
The seasonally adjusted Purchase Index rose 3% from a week earlier while the unadjusted Purchase Index increased 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 6.43% 6.44%.
'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.
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(RADIOCOR) 04-09-24 19:38:45 (0595) 5 NNNN