Business News Asia
The Mortgage Bankers Association (MBA) reported that mortgage loan applicants rose 1.2% last week after mortgage rates fell.
Refinance loan applicants rose 5% last week, but are down 86% year over year.
Home equity loan applicants fell 1% last week and were 44% lower than the same period last year.
The average interest rate on 30-year fixed-rate mortgages with conforming loan balances of $647,200 or less fell to 6.42% from 6.58% the previous week.