Bankers Association (MBA) reported on Wednesday the mortgage application volume
in the U.S. climbed 8.1 percent in the week ended September 27, following a 10.1
percent tumble in the previous week.
According to the report, refinance applications surged 14.2 percent, while applications to purchase a home rose 0.9 percent.
Meanwhile, the average fixed 30-year mortgage rate decreased to 3.99 percent from 4.02 percent.
“Although refinance activity slowed in September compared to August, the months together were the strongest since October 2016. The slight changes in rates are still causing large swings in refinance volume, and we expect this sensitivity to persist,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting.
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