(Reuters) - Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 6.14 percent, up 0.01 percentage point from the previous week. Interest rates, however, were significantly below year-ago levels of 6.57 percent.
The MBA's seasonally adjusted purchase index rose 4.0 percent to 427.3, its highest level since the week ended Jan. 12 when it stood at 439.7, but the index was below its year-ago level of 433.3. The purchase index is considered a timely gauge of U.S. home sales.
Read more at Reuters.com Bonds News
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