U.S. mortgage activity rises to highest since November [Reuters]
Solidion Technology, Inc. (STI)
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Source: Reuters
NEW YORK U.S. mortgage application activity reached a nearly four-month peak last week even as borrowing costs on 30-year home loans jumped to their highest almost three years, Mortgage Bankers Association data released on Wednesday showed. The Washington-based industry group said its measure of mortgage applications rose 3.1 percent to 418.1 in the week ended on March 10. This was the highest level since 460.30 in the week ended on Nov. 18. Interest rates on 30-year, fixed-rate conforming mortgages, the most widely held type of U.S. home loan, averaged 4.46 percent, a level last seen in April 2014. They averaged 4.36 percent in the prior week. Conforming loans are those with balances of $424,100 or less and that qualify for guarantees from federal mortgage agencies Fannie Mae ( FNMA.PK ) and Freddie Mac ( FMCC.PK ). Mortgage rates have risen in step with benchmark U.S. Treasury yields US10YT=RR as the Federal Reserve is widely expected to raise interest r
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