Mortgage applications keep climbing
[tag]Mortgage Bankers Association[/tag] reports that activity index increased for the second straight week, hitting its highest level since mid-May.
U.S. [tag]mortgage applications[/tag] rose for a second consecutive week as demand for home purchase loans hit its highest level in two months, an industry trade group said Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both [tag]refinancing[/tag] and purchasing loans, for the week ended Sept. 8 increased 3.2 percent to 584.2 from the previous week’s 566.3, its highest since mid-May. Borrowing costs on [tag]30-year fixed-rate mortgage[/tag]s, excluding fees, averaged 6.32 percent, edging up 0.01 percentage point from the previous week. Interest rates were above year-ago levels of 5.72 percent, but below a four-year high of 6.86 percent touched in June.