US mortgage applications unchanged in last week of June

(Sharecast News) - US mortgage applications were unchanged in the week ended 26 June, according to the Mortgage Bankers Association of America. Last week's flat reading comes as mortgage applications were also little changed during the period, with the benchmark fixed 30-year contract easing two basis points to 6.57%.

Applications to refinance a mortgage, which are more sensitive to short-term changes in interest rates, eased by 0.6% week-on-week, while applications to purchase a home were up 0.5%.



Reporting by Iain Gilbert at Sharecast.com