Ekonomické zprávy
24.07.2024

U.S. weekly mortgage applications drop 2.2 per cent

The Mortgage Bankers Association (MBA) announced on Wednesday that the mortgage application volume in the U.S. dropped 2.2 per cent in the week ended July 19, following a 3.9 per cent surge the week before

According to the MBA’s data, last week’s decrease in mortgage applications was due to a 4.0 per cent decline in mortgage applications to purchase a home. Meanwhile, mortgage refinance applications increased 0.3 per cent. 

The report also revealed that the average fixed 30-year mortgage rate slipped from 6.87 per cent to 6.82 per cent, the lowest level since the week ended February 2 (6.80 per cent).

Commenting on the latest survey results, Joel Kan, MBA’s vice president and deputy chief economist, noted that purchase applications fell as ongoing affordability challenges persist with rates at their current levels and with home-price appreciation still strong in many markets.

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