Pursuits
U.S. MBA Mortgage Applications Index Increased 8.2% Last Week
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Mortgage applications in the U.S. rose last week to their highest level in more than a month as declining borrowing costs spurred purchases and refinancing.
The Mortgage Bankers Association’s index increased 8.2 percent in the period ended May 6, the Washington-based group reported today. The group’s refinancing gauge advanced 9 percent, the biggest gain in nine weeks, while its purchase index rose 6.7 percent.