FX.co ★ US Mortgage Applications Rise Most Since February

US mortgage applications rose 10.8% in the first week of June, according to data from the Mortgage Bankers Association. This rebound follows a 2.5% decline in the previous period and ends a three-week run of decreases, marking the strongest increase since late February, even as benchmark mortgage rates moved higher. Refinance applications, which are especially sensitive to short-term interest rate changes, surged 15.3%, while applications for home purchase mortgages increased 7.3%.