US mortgage applications rise 14.1pc

(Sharecast News) - US mortgage applications rose 14.1% week-on-week in the week ended 16 January, extending the 28.5% surge in the previous period, according to the Mortgage Bankers Association. Applications to refinance a mortgage, which are more sensitive to week-to-week volatility, rose 20%, while applications for a mortgage to purchase a new home increased 5%.

The sharp back-to-back increases came alongside a drop in the benchmark 30-year mortgage rate to a 16-month low of 6.16%.







Reporting by Iain Gilbert at Sharecast.com