Weekly Mortgage Applications Rise in US

Applications for U.S. home mortgages rose last week as borrowing rates declined to their lowest since May, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 4.7 percent in the week ended July 31.

The MBA’s seasonally adjusted index of refinancing applications rose 5.9 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, rose 3.3 percent.

The refinance share of total mortgage activity rose to 51.3 percent of applications from 50.6 percent the week before.

via Reuters

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza