Mortgage applications rose 3.7% in the latest week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 6.55%.
The numbers: Home shoppers expect mortgage rates to rise further, pushing some to seize the opportunity to buy.
Demand for mortgages rose 3.7% in the latest week as rates rose to the highest levels in over a month. Key details: Some homeowners took advantage of the moment to refinance. The refinance index rose 1.7%. For homes sold for over $726,200, the average rate for the 30-year was 6.4%, up from 6.28% the previous week.The rate for adjustable-rate mortgages fell to 5.47%, from 5.56% previously.
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