Economic Buzz: US home loan applications highest in over 2 years

Home loan applications in the U.S. rose to their highest level since early 2023 in the week ended July 04, while mortgage rates eased only modestly, survey data from the Mortgage Bankers Association showed on Wednesday.

The number of mortgage applications grew 9.4 percent from the previous week when it they rose 2.7 percent. The latest weekly results were adjusted for the July 4th holiday.

The refinance Index increased 9 percent from the previous week. The 30-year fixed mortgage rate decreased just 0.2 percentage points to 6.77 percent, which was the lowest in three months.

The average loan size on a purchase application was $432,600, which was the lowest since January 2025.

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