Investing.com - The number of mortgage applications in the U.S. rose last week, as interest rates pushed lower, industry data showed on Wednesday.
In a report, the Mortgage Bankers Association said their mortgage market index, a measure of mortgage loan application volume, increased by a seasonally adjusted 2.9% in the week ending September 30 to 542.2. That follows a decline of 0.7% to 527.1 in the preceding week.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances dipped to a three-month low of 3.62% from 3.66% in the preceding week.
The survey covers over 75% of U.S. retail residential mortgage applications, according to MBA.
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