Treasury Yieldsw

Mortgage applications rose last week for the first time in five weeks. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – increased by 2.3%, ticking up after the week prior’s 4.2% decline. The average interest rate for 30-year fixed loans remained unchanged at 7.31%, breaking four straight weeks of increases. It is at the highest level since December 2000. Adjusted purchase applications rose by 2%, while the unadjusted index dipped 0.3% from the week before and was 27% lower YOY. “Treasury yields peaked early in the week and did move lower by the end, which may have spurred some activity,” said Joel Kan, MBA’s Vice President and Deputy…