NEW YORK- Applications for the sudden last week at the fastest rate real ready U.S. in two months that interest rates declined for a fourth consecutive week, an industry group said Wednesday.
The Mortgage Bankers Association, said its index seasonally mortgage application activity, which includes the application for purchase refinancing and home, jumped from 8.2% in the week that ended May 6.
"Rate fell again last week as the Federal Reserve continued its programme for the purchase of property," Michael Fratantoni, Vice President of the MBA of the research, said in a statement.
"On this period of four weeks, the refinance index has increased by approximately 18%." Despite the recent increase of however, refinance application volumes remain more than 50% below the levels observed last fall. ?
Seasonally adjusted index of MBA of refinance applications rose 9 percent, while the tonnage of loan for house purchase rose by 6.7%.
Refinancing is 63.1% of total loan applications, place to 62.7% the previous week. It is the highest level since late March.
Fixed mortgage rates of 30 years average 4.67% during the week, down from 4.76% the previous week.
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