Mortgage Demand Near 6 Month Low

Demand for U.S. mortgages held last week near six-month lows as the highest long-term borrowing costs since August stifled refinancing, a Mortgage Bankers Association survey showed on Wednesday.

Average 30-year mortgage rates jumped 0.10 percentage point to 5.18 percent in the Jan. 1 week, up more than a half percentage point from the record low in March, driving down refinance requests to levels last seen in early August.

Source : CNBC -Read Article