Reuters: U.S. mortgage applications fall as loan rates spike

Reuters: U.S. mortgage applications fall as loan rates spike

The U.S. saw a drop-off in mortgage applications last week as interest rates on some 30-year-fixed-rate home loans reached the highest levels in more than 4.5 years, the Mortgage Bankers Association said Wednesday.

According to a Reuters article, interest rates on “conforming” 30-year mortgages — loans with balances of $453,100 or less — averaged 4.80 percent, the highest since September 2013 and up from 4.73 percent from the prior week.

For more, read the full Reuters article here. 

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