Mumbai, Nov. 12 -- Mortgage applications in the United States increased by 6.2% in the week ending November 6 compared to the previous week, according to the latest Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey released on Wednesday.
The average contract interest rate for 30-year fixed-rate mortgages stood at 7.21%, marking a 0.09-percentage-point decrease from the previous reading of 7.30%. The purchase index rose from 131.4 to 141.2, and the refinance index was up from 517.5 to 540.7.
Published by HT Digital Content Services with permission from Capital Market....