US mortgage applications register sharpest weekly increase since June

(Sharecast News) - US mortgage applications rose by 6.2% in the week ended 6 November, according to the Mortgage Bankers Association, marking the sharpest weekly increase since June. Last week's increase helped trim the sharp decline in mortgage applications since the start of September, with a pullback in oil prices and a pivot to Treasury securities drove benchmark mortgage rates lower.

Applications to refinance a mortgage, which are typically more sensitive to week-to-week interest rate changes, rose by 4.5%, while applications for a mortgage to purchase a new home rose by 7.5%.





Reporting by Iain Gilbert at Sharecast.com