U.S. mortgage interest rates saw slight changes last week as applications for refinancing increased, even though home purchase applications dipped.
The average interest rate for 30-year mortgages in the U.S. edged up from 6.84% to 6.88% during the week ending June 20, according to the Mortgage Bankers Association (MBA). While applications for home purchases declined by 0.4%, refinancing requests rose by 3%. Meanwhile, the average rate for 15-year mortgages decreased slightly from 6.14% to 6.11%.
MBA Vice President Joel Kan attributed these shifts to falling bond yields influenced by Middle East conflicts, economic conditions, and last week's Federal Reserve meeting. Despite a minor rise in mortgage rates, they stayed within a narrow range, with overall applications rising modestly, largely driven by refinancing activity.
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A former US Army soldier suspected of fatally shooting four people in rural Montana remains at large as of 4 August, authorities said, triggering a state-wide manhunt and warnings to residents.
Belgium has launched a humanitarian aid mission to the Gaza Strip, officials confirmed on 4 August, as the humanitarian crisis in the war-torn territory continues to worsen.
A senior adviser to Donald Trump accused India on 4 August of helping finance Russia’s war in Ukraine through its ongoing oil trade with Moscow, sparking backlash from Indian officials and raising questions about future US-India ties.
Iran on 4 August approved the creation of a National Defence Council, following June’s brief air conflict with Israel, the country’s most serious military confrontation since the 1980s war with Iraq.
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According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
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A former US Army soldier suspected of fatally shooting four people in rural Montana remains at large as of 4 August, authorities said, triggering a state-wide manhunt and warnings to residents.
Belgium has launched a humanitarian aid mission to the Gaza Strip, officials confirmed on 4 August, as the humanitarian crisis in the war-torn territory continues to worsen.
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