U.S. mortgage
applications rise even as rates jump
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[September 26, 2018]
NEW YORK (Reuters) - U.S.
mortgage applications increased last week even as home
borrowing costs jumped with interest rates on some
30-year fixed-rate loans reaching their highest levels
in more than seven years, the Mortgage Bankers
Association said on Wednesday. |

A home for sale is seen in the Penn Estates development
where most of the homeowners are underwater on their
mortgages in East Stroudsburg, Pennsylvania, U.S., June
20, 2018. Picture taken June 20, 2018. REUTERS/Mike
Segar |
The Washington-based group's seasonally adjusted index on
requests for a loan to buy a home and to refinance an existing
home rose 2.9 percent to 352.5 in the week ended Sept. 21.
Interest rates on 30-year conforming mortgages, whose balances
are $453,100 or less, averaged 4.97 percent, which was the
highest since April 2011. Last week, they averaged 4.88 percent.
(Reporting by Richard Leong; Editing by Chizu Nomiyama)
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