Page 5 - Refinancing Figures News Today

Wednesday's top personal finance stories.

Mortgage applications inched up 0.5% in the latest week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 6.73%.

A default would shake up the financial markets, including the yield on 10-year Treasury bonds, with which mortgage rates often move. 

The decline in mortgage rates is good news for home buyers, but home construction has slowed and supply is still low in parts of the U.S.

"Spring has arrived, but the housing market is missing the customary burst in listings and purchase activity," one economist says.

Pending home sales gained in February but are still 21.1% lower than a year ago, as higher costs weigh on the housing market.

By Shaina Mishkin Order Reprints Text size Mortgage rates typically rise and fall alongside the 10-year Treasury yield since both are influenced by investor activity in the bond market. Bing Guan/Bloomberg Mortgage rates increased this week from their historic low. Home buyers and owners looking to refinance shouldn’t expect them to go back down. Bond yields, which have been increasing steadily since mid-August on hopes for further stimulus and optimism that the e...