US Mortgage Applications Rise in Latest Week

March 4, 2015 Share Print 1

Applications for U.S. home mortgages edged up last week as interest rates dipped, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 0.1 percent in the week ended Feb. 27.

The MBA’s seasonally adjusted index of refinancing applications rose 0.5 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, fell 0.2 percent.

The refinance share of total mortgage activity was unchanged at 62 percent of applications compared with the week before.

Fixed 30-year mortgage rates averaged 3.96 percent in the week, down 3 basis points from 3.99 percent the previous week.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.