*Walter Bloomberg
@DeItaone
Joined August 2014
40 Following 2M Followers
US MORTGAGE DEMAND JUMPS AS 30-YEAR RATE FALLS TO 7.21%
US mortgage applications surged 6.2% last week as borrowing costs eased, according to the Mortgage Bankers Association.
Home purchase applications jumped 7.5%, while refinancing demand rose 4.5%.
The average 30-year mortgage rate fell 9 basis points to 7.21%, offering some relief to prospective homebuyers.
Housing demand is showing signs of life, even with mortgage rates still above 7%.
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