Sunday, January 24We Break the News

US Mortgage Applications Rise the Most Since March

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Mortgage applications in the United States rose 16.7 percent in the week ended January 8th, 2021, the largest increase since a record 55.4 percent jump during the first week of March, data from the Mortgage Bankers Association showed. Applications to refinance a home loan spiked 20.1 percent, up 93 percent year-on-year; and those to purchase a home increased 8.0 percent, 10 percent higher than a year ago. The average fixed 30-year mortgage rate was up 2 bps to 2.88 percent last week, still close to an all-time low of 2.85 percent hit in mid-December.

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