U.S. mortgage applications jumped to their highest level since October 2016, led...
FILE PHOTO: Homes are seen for sale in the northwest area of Portland, Oregon March 20, 2014. REUTERS/Steve Dipaola/File Photo
NEW YORK - U.S. mortgage applications jumped to their highest level since October 2016, led by a surge in refinancing activity, as some home borrowing costs declined to their lowest levels in more than a year, the Mortgage Bankers Association said on Wednesday. The Washington-based group’s seasonally adjusted index on requests for loans to buy a home and to refinance one increased 18.6% to 503.6 in the week ended March 29. This was the strongest reading since 512.9 in the week of Oct. 14, 2016.
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