US mortgage applications increase 1.1pc

(Sharecast News) - US mortgage applications increased by 1.10% in the week ended 20 June, according to the Mortgage Bankers Association of America, trimming the prior week's 2.6% drop. Applications to refinance a mortgage rose by 3%, while applications to purchase a home were broadly flat week-on-week.

The increase comes despite a four-basis-point increase in benchmark mortgage rates.







Reporting by Iain Gilbert at Sharecast.com