NEW YORK CITY-The Mortgage Bankers Assoc. has reported that the mortgage application demand rose for the third week in a row. The demand was mainly boosted by the low rates of interest. The seasonally adjusted index of mortgage applications, which includes refinance and purchase loans, of the MBA rose 1.3% at the end of July.
The four-week moving average of mortgage applications also rose by 0.3%. The 30-year average mortgage rate stood at 4.6% compared to 4.69% the previous week. For the full story, go to Reuters.
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