Market update: mortgage applications rise 10.3% in MBA’s latest survey

U.S. mortgage applications jumped 10.3% overall last week, with purchase applications rising 9.3%. Quicken Loans Vice President Bill Banfield offers the following comments on the report.

“The jump in applications shows folks are taking notice of rates near six-month lows. The spike in purchase applications is especially good to see, as homeowners may finally be getting comfortable putting their home on the market with the level of inventory they see around them.”

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