Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

US survey reveals latest mortgage surge

Staff Reporter 1 minute read

Home loan borrower and refinance applications have surged in the US, according to a recent survey.

The Mortgage Bankers Association today released its survey on mortgage growth. The Market Composite Index, a measure of mortgage loan application volume, increased 14.3 percent on a seasonally adjusted basis since last week.

The Refinance Index increased 21.8 percent from last week’s adjusted index.

The surge may be attributed to borrowers locking in fixed interest rates, which had fallen in recent times

In the US, the average contract interest rate for 30-year fixed-rate mortgages dropped to 5.13 percent from 5.18 percent.

And for 15-year fixed-rate mortgages, the average contract interest rate fell to 4.45 percent from 4.62 percent.

US survey reveals latest mortgage surge
default
TheAdviser logo

The not-to-be-missed Accountants Daily Strategy Day will travel through Melbourne and Sydney in August to equip accounting professionals with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technology, processes, strategies and trends shaping the future of accounting. Visit the website for more information: www.accountantsdaily.com.au/strategy-day

default

 

more from the adviser
David Hyman

Breaking News

Brokers promote competition in lending: Lendi

Brokers are driving competition in the mortgages sector and chang...

money au ta

Breaking News

SME fintech closes $25m raise to fund expansion

An SME lender has raised $25 million in equity to fund the ‘rap...

loan application

Breaking News

Hot Property: The biggest property headlines from the week 26 to 30 July

The weekly round-up of the biggest news stories from across Momen...