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The number of mortgage loan applications in the United States of America has risen by 4.4 per cent, the Mortgage Bankers Association (MBA) revealed on Wednesday.
According to MBA’s latest mortgage applications survey, the rise represents an 18.0 per cent increase on this time last year.
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The refinance share of mortgage activity increased to 54.2 per cent of total applications from 52.6 percent the previous week while the average contract interest rate for 30-year fixed-rate mortgages decreased to 5.17 per cent from 5.36 per cent last week.
The average contract interest rate for 15-year fixed-rate mortgages decreased to 4.60 per cent from 4.75 per cent this time last week.
