By Lynx Insight Service
Feb 22 (Reuters) – The Mortgage Bankers Association (MBA) Composite Market Index, which measures the volume of mortgage applications, fell 13.3%, according to the latest available weekly data, after falling by 7.7% the previous week.
For its part, the average interest rate on 30-year mortgages – used as a benchmark for the US mortgage market – amounted to 6.62%.
Data for the previous week had shown a level of 6.39%. (Report by Benjamin Mejías Valencia)