By Lynx Insight Service
Feb 15 (Reuters) – The Mortgage Bankers Association (MBA) Composite Market Index, which measures the volume of home loan applications, fell 7.7%, according to the latest available weekly data, after rising by 7.4% 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 6.39%.
Data for the previous week had shown a level of 6.18%. (Report by Benjamin Mejías Valencia)