Mortgage applications climb 3.6% after slight drop in rates
MBA data show mortgage applications rose 3.6% as the 30-year fixed rate fell to 6.77%, and refinance share rose to 40.7%.
MBA data show mortgage applications rose 3.6% as the 30-year fixed rate fell to 6.77%, and refinance share rose to 40.7%.
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Why it matters
The 3.6% rise in mortgage applications following a slight drop in rates is notable market activity reflecting borrower responsiveness to rate changes, but it is routine within the mortgage market and unlikely to shift broader credit conditions materially.
Sources
HousingWire
Mortgage applications climb 3.6% after slight drop in rates
MBA data show mortgage applications rose 3.6% as the 30-year fixed rate fell to 6.77%, and refinance share rose to 40.7%.