Home loan purchase demand up again -
The demand for U.S. mortgage applications to purchase homes rose last week for a third straight week as interest rates tumbled, according to Mortgage Bankers Association. The low rates also buoyed demand for home refinancing loans, with activity rising in five out of the past eight weeks. The MBA's seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans - increased 1.3% in the week ended July 30. The four-week moving average of mortgage applications, which smooths the volatile weekly figures, was up 0.3%. The seasonally adjusted purchase index, a tentative early indicator of home sales, increased 1.5%.
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