Mortgage Applications Bounce Back

Mortgage Applications

 

According to industry trade group, U.S. mortgage applications rebounded from 4-year lows as mortgage rates slipped across the board.

 

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity for the week ended August 4 increased 4.9 percent to 553.3 from the previous week's 527.6.

 

Applications had slipped to their lowest level in more than four years during the previous week.

 

Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 6.45 percent, down 0.17 percentage point from the previous week.

 

Get the full story here…