Bankers Association (MBA) reported on Wednesday the mortgage application volume
in the U.S. declined 4.1 percent in the week ended January 22, following a 1.9
percent decrease in the previous week.
According to the report, refinance applications fell 5.0 percent, while applications to purchase a home dropped 4.0 percent.
Meanwhile, the average fixed 30-year mortgage rate rose from 2.92 percent to 2.95 percent, the highest since the week ended November 15.
“Since hitting a recent low in April 2020, the average purchase loan amount has steadily risen — in line with the accelerating home-price appreciation occurring in most of the country because of strong demand and extremely low inventory levels,” noted Joel Kan, an MBA economist. “In a sign that borrowers are increasingly more sensitive to higher rates, large declines in government purchase applications and refinance applications pulled overall activity lower,” Kan added. “The refinance index has now declined for two-straight weeks.”
© 2000-2021. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at firstname.lastname@example.org.