The Mortgage Bankers Association showed mortgage applications in the US rose 7.4% in the week ended February 3rd, 2023, after plunging 9% the previous week. Applications rose for both refinancing (17.7%), though still 75% lower than same week one year ago, and purchases (3.1%), 37% lower than same week one year ago.. Mortgage rates hits their lowest since September last year. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) edged down 1bps to … Continue reading “US Mortgage Refinancing and Purchase Applications Rise as Rates Ease”