Data compiled by the Mortgage Bankers Association (MBA) of the USA shows that, seasonally adjusted, US mortgage applications rose by 0.9% in the second week of June, rebounding for the second consecutive week after falling by 5.2% in the last week of May.

The association pointed out that mortgage rates fell last week after the latest inflation data and the Federal Reserve's interest rate decision. The 30-year loan interest rate fell to 6.94 cents, the lowest level since the end of March. Home purchase mortgage applications increased slightly week over week, but still below the same period last year. The association expects home sales to increase later this year with more housing supply.