welcome
CNBC

CNBC

Business

Business & Economics

Weekly mortgage demand surges 11% higher, as interest rates dropped for the sixth straight week

CNBC
Summary
Nutrition label

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% .

VR Score

90

Informative language

96

Neutral language

57

Article tone

formal

Language

English

Language complexity

42

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

no external sources

Source diversity

no sources

Affiliate links

no affiliate links