The Mortgage
Bankers Association (MBA) announced
on Wednesday that the mortgage application volume in the U.S. soared 20.0 per
cent in the week ending April 4, following a 1.6 per cent decline in the week before. That marked the first weekly increase in mortgage
applications in four weeks, the pace of which was also the fastest since late February.
According to
the MBA’s data, last week’s surge in mortgage applications reflected
a 35.3 per cent jump in mortgage refinance applications and a 9.2 per cent climb in
mortgage applications to purchase a home.
The report also showed that the average fixed
30-year mortgage fell from 6.70 per cent to 6.61 per cent, the lowest level since the week ended October 18 (6.52 per cent).