Mumbai, Sept. 24 -- Mortgage applications in the United States went down 1.5% in the week ending September 18, the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey released on Wednesday showed.
The average contract interest rate for 30-year fixed-rate mortgages climbed 7.12% from 6.97% recorded in the week before. Applications for home purchase mortgages retreated 1% in the reported week, and were 11% lower on a yearly basis. In addition, the refinance index decreased 3% and was 62% lower than during the same period a year ago.
Published by HT Digital Content Services with permission from Capital Market....