The Zhitong Finance App learned that US mortgage interest rates fell for the fourth week in a row, driving home purchase applications to the biggest increase since mid-April, bringing a hint of vitality to the sluggish real estate market. According to data released by the American Mortgage Bankers Association (MBA) on Wednesday, interest rates on 30-year fixed mortgage contracts fell 9 basis points to 7.21% in the week ending November 6. Borrowing costs have dropped nearly 30 basis points from a two-year high of 7.5% at the beginning of last month, but they are still unbearably high for many Americans.

The Zhitong Finance App learned that US mortgage interest rates fell for the fourth week in a row, driving home purchase applications to the biggest increase since mid-April, bringing a hint of vitality to the sluggish real estate market. According to data released by the American Mortgage Bankers Association (MBA) on Wednesday, interest rates on 30-year fixed mortgage contracts fell 9 basis points to 7.21% in the week ending November 6. Borrowing costs have dropped nearly 30 basis points from a two-year high of 7.5% at the beginning of last month, but they are still unbearably high for many Americans.