- Analytics
- News and Tools
- Market News
- U.S. weekly mortgage applications plunge 5.1 percent
U.S. weekly mortgage applications plunge 5.1 percent
The
Mortgage Bankers Association (MBA) reported on Wednesday the mortgage
application volume in the U.S. plunged 5.1 percent in the week ended April 2, following
a 2.2 percent drop in the previous week. This was the largest decline since the
week ended February 19.
According
to the report, refinance applications fell 5.3 percent, while applications to
purchase a home declined 4.6 percent.
Meanwhile,
the average fixed 30-year mortgage rate rose from 3.33 percent to 3.36 percent,
the highest since the week ended June 5.
“Refinance
applications declined for the fifth straight week, but there was a gain in VA
loan activity,” noted Joel Kan, an MBA economist. “Overall, refinance demand
has decreased, with volume over the past 10 weeks down by more than 30%.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
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 pr@teletrade.global.
Bank transfers
