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- U.S. weekly mortgage applications fall
U.S. weekly mortgage applications fall
The Mortgage
Bankers Association (MBA) reported on Wednesday the mortgage application volume
in the U.S. fell 2.4 percent in the week ended July 5, following a 0.1 percent decrease
in the previous week.
According to
the report, refinance applications declined 6.5 percent, while applications to
purchase a home climbed 2.3 percent.
Meanwhile, the
average fixed 30-year mortgage rate dropped to 4.04 percent from 4.07 percent.
“Borrowers have
been less sensitive to low rates as many borrowers have either recently
refinanced or are likely waiting for rates to fall even further,” said Joel
Kan, MBA’s associate vice president of economic and industry forecasting.
“Other mortgage rates in our survey were unchanged or slightly higher than in
the previous week.”
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