Mortgage rates fell slightly last week, spurring a more than 6% increase in total mortgage demand, according to the Mortgage Bankers Association. The average 30-year fixed-rate mortgage for conforming loans slightly decreased, while points for a 20% down payment remained steady. Home purchase applications rose 12% weekly and were 52% higher than the same week last year, driven by increased inventory and economic resilience. The average purchase loan size reached just below $440,000.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Mortgage rates fell slightly last week, spurring a more than 6% increase in total mortgage demand,
00:07according to the Mortgage Bakers Association. The average 30-year fixed rate mortgage for
00:12conforming loans slightly decreased, while points for a 20% down payment remained steady.
00:17Home purchase applications rose 12% weekly and were 52% higher than the same week last year,
00:23driven by increased inventory and economic resilience. The average purchase loan size
00:28reached just below $440,000. For all things money, visit Benzinga.com slash GSTV.