Mortgage Rates Drop, Applications Surge
This is a news story, published by CNBC, that relates primarily to the Mortgage Bankers Association's news.
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rate mortgagesCNBC
•Business
Business & Economics
Weekly mortgage demand surges 11% higher, as interest rates dropped for the sixth straight week

78% Informative
Total mortgage applications rose 11.2% week to week , according to the Mortgage Bankers Association's seasonally adjusted index.
Applications for a mortgage to purchase a home rose 7% for the week and were 4% higher than the same week one year ago .
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $ 806,500 or less, decreased last week to 6.67% .
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