U.S. applications rise most since January: MBA

U.S. mortgage applications increased the most last week in more than five months, as some 30-year home loan borrowing costs held steady or fell from the prior week, the Mortgage Bankers Association said on Wednesday. Domestic home sales and construction have remained resilient this year despite higher mortgage rates, more expensive lumber and shortages of land and labor. U.S. housing starts neared an 11-year peak in May at an annualized pace of 1.350 million units, while building permits fell 4.6 percent, the Commerce Department said on Tuesday.

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Source: Reuters