U.S. Mortgage Applications Increase for First Time in Six Weeks
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The number of mortgage applications in the U.S. climbed for the first time in six weeks as record- low interest rates led to a surge in refinancing.
The Mortgage Bankers Association’s index increased 15 percent in the week ended Oct. 8, the Washington-based group said today. Refinancing rose 21 percent, the most in four months, while purchases decreased for the first time in three weeks.