(Reuters) – The number of U.S. consumers who applied for loans to buy a home and to refinance one rose to an 11-month high last week, signaling that the recent drop in interest rates is reviving housing activity, the Mortgage Bankers Association said on Wednesday.
The Washington-based industry group’s seasonally adjusted gauge on mortgage applications increased 13.5 percent to 411.8 in the week ended Jan. 11. This was the strongest reading since February 2018.
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U.S. mortgage applications climb to 11-month high: MBA