Mortgage applications up last week-MBA
Applications for U.S. home mortgages rose for the first time in three weeks despite higher loan rates, an industry group said on Wednesday.
The Mortgage Bankers Association said both refinancing and purchasing activity rose sharply in the week ended July 1.
The MBA said its seasonally adjusted index of mortgage application activity increased 9.6 percent to 853.4, more than offsetting the previous week’s 1.1 loss.
On a four-week moving average, the index is up 1.3 percent from 783.4 to 795.0.
