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U.S. weekly mortgage applications fall
The Mortgage
Bankers Association (MBA) reported on Wednesday the mortgage application volume
in the U.S. fell 6.2 percent in the week ended August 23, following a 0.9
percent drop in the previous week.
According to
the report, refinance applications declined 7.6 percent, while applications to
purchase a home dropped 4 percent.
Meanwhile, the
average fixed 30-year mortgage rate increased to 3.94 percent from 3.90 percent.
“U.S. Treasury
yields were volatile over the course of the week, as the ongoing trade dispute
between the U.S. and China continued to generate uncertainty among investors,” noted
Joel Kan, MBA’s associate vice president of economic and industry forecasting.
“Rates increased for the first time since the week of July 12.”
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