Thursday, July 14, 2016

Mortgage applications rise 7.2 percent in latest survey as rates dip further

The Market Composite Index increased 7.2 percent on a seasonally adjusted basis from one week earlier, with purchase loans unchanged but refinances up 11 percent.  Last year, the Fourth of July fell on the prior week. The average contract interest rate for 30-year fixed-rate mortgages decreased to its lowest level since May 2013, 3.60 percent.

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