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Real Estate Article |
Loan Demands Surges Last Week
Loan Demand
Surges Last Week
Loan requests for home purchases — viewed as a leading indicator of
future home sales — surged 6.7 percent last week, the Mortgage Bankers
Association reports. Applications for refinancing also rose, jumping 8
percent.
MBA’s index of mortgage application demand had declines six of the
past nine weeks as mortgage rates have inched higher. Last week,
mortgage rates dropped for the first time in three weeks, helping to
lift loan demand, the MBA reports.
MBA’s overall index of mortgage application activity, which
reflects applications for home purchases and refinancing, increased
7.7 percent for the week ending March 22.
The MBA reports that the 30-year fixed-rate mortgage averaged 3.79
percent during the week, down from 3.82 percent the week prior.
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