US Mortgage Applications

Mortgage applications spike after Trump victory Borrowers keen to lock in low rates while they can

Fearful of rising interest rates following Donald Trump’s ele上海龙凤论坛

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ction victory, homebuyers are rushing to land mortgages. The number of home loan applications in the U.S. last week was 5.5 percent higher than a 爱上海同城论坛

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year ago, according to the Mortgage Bankers Association.

Overall loan dollar volume was up 10 percent.

The increase in purchase activity was driven by bor上海夜网论坛

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rowers seeking larger loans, with applications for purchase loans above $417,000 increasing 16.8 percent for the week, MBA s chief economist Michael Frantantoni to上海贵族宝贝交流区

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ld CNBC. This change led to the average purchase application loan amount reaching a new record of $310,000.”

One reason for the spike in jumbo loans is that the spread between their interest rate and the rate on regular 30-year loans has widened, Frantantoni said.

Applications for mortgages to refinance homes, meanwhile, fell by 3 percent.

The 10-year Treasury yield, a benchmark for mortgage rates, r阿拉爱上海同城

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ose in the wake of Trump’s victory as investors predict his planned fiscal stimulus could lead to rising inflation and interest rates.
[CNBC] Konrad Putzier

Tags: Donald Trump
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