- Analytics
- News and Tools
- Market News
- U.S. weekly mortgage applications drop 4 percent
U.S. weekly mortgage applications drop 4 percent
The
Mortgage Bankers Association (MBA) reported on Wednesday the mortgage
application volume in the U.S. fell 4.0 percent in the week ended July 16,
following a 16.0 percent climb in the previous week.
According
to the report, refinance applications declined 2.8 percent, while applications
to purchase a home plunged 6.4 percent.
Meanwhile, the average fixed 30-year mortgage rate rose from 3.09 percent to 3.11 percent. This was the first increase in the last three weeks.
“Limited
inventory and higher prices are keeping some prospective homebuyers out of the
market,” noted Joel Kan, MBA’s associate vice president of economic and
industry forecasting. “Refinance activity fell over the week, but because rates
have stayed relatively low, the pace of applications was close to its highest
level since early May 2021.”
© 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
