U.S. mortgage rates declined for the second straight week hitting a 2-month low while mortgage applications increased 2.2 percent for the week ending Nov. 18 from one week earlier, according to an industry association, reflecting a slight relief in the constrained housing market.
Homebuyers are increasingly moving to affordable places within the country as U.S. mortgage rates crossed the 7 percent mark last month and decades-high inflationary pressures cut into real incomes.