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.