In the United States, the average interest rate for a 30-year fixed-rate mortgage increased to 6.72% last week, rising for the first time in 9 weeks, according to the Mortgage Bankers Association (MBA) data for the week ending on March 14th. Mortgage applications dropped by 6.2% from the previous week. While applications for home purchases increased by 0.1% during this period, refinance applications decreased by 13%. The average interest rate for a 30-year mortgage rose from 6.67% to 6.72% last week, and for a 15-year mortgage, it went up from 6.04% to 6.08% during the same period. MBA Chief Economist Mike Fratantoni noted that mortgage rates increased for the first time in 9 weeks. Fratantoni stated that this increase led to a decrease in refinance application volume, but home purchase application volume reached its highest level in the past 6 weeks. He also mentioned that the growth in housing inventory and stable mortgage rates are supporting housing purchase activities this spring.