Tags: Mortgage | Applications | home | loans

Mortgage Applications Rise as New-Purchase Demand Hits Year High

Wednesday, 05 December 2012 08:56 AM EST

Applications for U.S. home mortgages rose last week as loan requests for new purchases hit a new high for the year, 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 4.5 percent in the week ended November 30.

The MBA's seasonally adjusted index of refinancing applications rose 6.1 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, rose 0.1 percent, rising for the fourth straight week and reaching another high point on the year.

The refinance share of total mortgage activity rose to 83 percent of applications from 81 percent the week before.

Fixed 30-year mortgage rates averaged 3.52 percent, down 1 basis point from 3.53 percent.

The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.

© 2024 Thomson/Reuters. All rights reserved.


FinanceNews
Applications for U.S. home mortgages rose last week as loan requests for new purchases hit a new high for the year, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both...
Mortgage,Applications,home,loans
148
2012-56-05
Wednesday, 05 December 2012 08:56 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved