Mortgage applications climbed nearly 16 percent last week
The indicator also serves as the latest evidence of a growing economic recovery. The Labor Department reported unemployment fell slightly to 8.9 percent last Friday.
The group’s refinance index was also up, growing 17.2 percent.
Similarly, its purchase index reached its highest level of the year, increasing 12.5 percent.
The average interest rate for a 30-year fixed-rate mortgage grew slightly, to 4.93 percent from the previous week’s 4.84 percent average. A historically low interest rate for mortgages was credited by the MBA with helping to drive the growth.
Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed..
tt
Harris calls for ending filibuster for abortion rights
