Mortgage Purchase Applications Rise, Refinancing Falls

Purchase applications keep building, up 1.0 percent in the June 28 week with the year-on-year climb at 10.0 percent vs 9.0 percent in the prior week. This is good news for what has been an uneven housing sector so far this year. Refinancing applications have also been climbing but edged back 1.0 percent in the week. Mortgage rates remain very favorable, averaging 4.07 percent for 30-year conventional loans.