US mortgage applications increase on lower rates

FXStreet (London) - Data released by the US Mortgage Bankers Association showed that mortgage applications increased in the week ending 19 December, with its index rising by 0.9 percent after falling 3.3 percent the previous week.

The increase in applications was helped by a decline in rates as the average 30-year fixed rate loan declined to a one-year low at 4.02 percent, down from 4.06 percent.