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Wednesday's top personal finance stories.
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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.