NEW YORK - U.S. mortgage applications for buying or refinancing a home climbed to a two-month high last week, as home borrowing costs fell to their lowest in over a year, data from the Mortgage Bankers Association showed on Wednesday.
The Washington-based industry group’s seasonally adjusted index on mortgage activity edged up 1.6 percent to 390.0 in the week ended March 15. This was the highest reading since 400.6 in the week of Jan. 18. Benchmark 10-year Treasury yields were at 2.589 percent in early Wednesday trading, 2 basis points lower than on Tuesday and a week ago, Refinitiv data showed.MBA’s index on refinancing rose 3.5 percent to 1,146.8 last week, which was the strongest since the week of Jan. 11.
Wonder when the lack of job security will catch up with credit applications.
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