Reported 2 days ago
Mortgage applications in the US for refinancing and home purchases saw a significant increase last week, despite borrowing costs remaining just under 7%. The Mortgage Bankers Association reported a 15.6% rise in refinancing applications and a 10.3% increase in home purchase applications, marking the highest levels in two months. Economists suggest that lower home financing costs are necessary to revive the housing market, which continues to struggle with high prices.
Source: YAHOO