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CNBC

CNBC

Weekly mortgage demand inched up, despite higher interest rates. Here's why.

CNBC
Summary
Nutrition label

73% Informative

Applications to refinance a home loan rose 2% for the week and were 43% higher than the same week one year ago .

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($ 766,550 or less) increased to 6.90% from 6.86% .

Purchase demand was driven by conventional and FHA loans, with FHA purchase applications seeing a 7% increase.

VR Score

83

Informative language

88

Neutral language

33

Article tone

formal

Language

English

Language complexity

43

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

no external sources

Source diversity

no sources

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