Mortgage applications climbed 1.7% last week, with purchase and refinancing requests both up.

Mortgage applications rose 1.7% last week despite a slight increase in 30-year fixed mortgage rates to 6.90%. Purchase applications, driven by FHA and conventional loans, increased by 2%, while refinancing applications rose 2%, marking a 43% increase from the same week last year. The rise in mortgage rates has been relatively stable due to geopolitical tensions and investor behavior.

November 20, 2024
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