Mortgage applications rise as rates fall to one-month low

Published Wed, Apr 15 20267:00 AM EDTUpdated Wed, Apr 15 20267:51 AM EDT

By:Lisa Rizzolo

Homes in Centreville, Maryland, US, on Tuesday, April 4, 2023. 

Nathan Howard | Bloomberg | Getty Images

Mortgage rates fell to the lowest level in a month, boosting refinance activity and offsetting weak demand from homebuyers. As a result, total mortgage application volume rose 1.8% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $832,750 or less, decreased to 6.42% from 6.51%, with points increasing to 0.62 from 0.61, including the origination fee, for loans with a 20% down payment. LEARN MORE…

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