Mortgage Refinance Applications on the Decline as New Home Loans Rise
Although the number of mortgage refinance applications fell 4.6 percent last week, home loan requests are on the rise.
“That’s a good sign for the housing industry,” CNBC explained in a new video report on Wednesday. “Requests for new home loans are one of the best indicators of home sales, and they came in at the highest level since June 2013.”
Also of note last week, the average rate for a fixed 30-year mortgage came in at 3.93 percent.
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