US mortgage applications surge 20pc week-on-week

(Sharecast News) - US mortgage applications surged 20% in the week ended 4 April, according to the Mortgage Bankers Association of America, more than erasing the three consecutive weekly declines preceding it. Applications to purchase a home were up 9%, in line with a nine basis point drop in benchmark mortgage rates to 6.61%, while applications to refinance a mortgage shot up 35% to their highest level since October.





Reporting by Iain Gilbert at Sharecast.com