US mortgage applications rise 3.6pc

(Sharecast News) - US mortgage applications rose 3.6% in the week ended 7 August, according to the Mortgage Bankers Association, the strongest increase in two months and a rebound after two consecutive declines. Last week's uptick followed a brief easing in benchmark mortgage rates as long‑term Treasury yields pulled back from multi‑decade highs.

Applications to refinance a mortgage, which are more sensitive to short‑term interest rate moves, climbed 5%, while applications to purchase a home increased 3%.







Reporting by Iain Gilbert at Sharecast.com