Mortgage apps inch up despite near three-year rate lows

Posted online May 11, 2016 | 11:33 am

Despite the lowest interest rates in nearly three years, mortgage applications inched up 0.4 percent last week.

Refinance applications moved up 0.5 percent.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances - $417,000 or less - decreased to 3.82 percent from 3.87 percent.

Read more from CNBC.

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