UPDATE 1-U.S. mortgage activity falls to five-week low -MBA [Reuters]
Solidion Technology, Inc. (STI)
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Source: Reuters
U.S. mortgage activity falls to five-week low: MBA NEW YORK U.S. mortgage application activity hit a five-week low even as home borrowing costs were little changed from the prior week, Mortgage Bankers Association data released on Wednesday showed. The Washington-based industry group said its measure on mortgage applications declined for a third consecutive week. It fell 1.6 percent to 397.1 in the week ended March 31. The average interest rate on 30-year, fixed-rate conforming mortgages, the most widely held type of U.S. home loan, was 4.34 percent, little changed from 4.33 percent from 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 ). Rates on conforming 30-year loans were steady despite another weekly decline in benchmark U.S. Treasury yields US10YT=RR due to doubts on possible tax cuts and infrastructure spending and hints from Federal Rese
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