Ekonomické zprávy
20.10.2021

U.S. weekly mortgage applications tumble 6.3 percent

The Mortgage Bankers Association (MBA) reported on Wednesday the mortgage application volume in the U.S. tumbled 6.3 percent in the week ended October 15, following a 0.2 percent gain in the previous week.

According to the report, applications to purchase a home decreased 4.9 percent, while refinance applications plunged 7.1 percent.

Meanwhile, the average fixed 30-year mortgage rate increased from 3.18 percent to 3.23 percent, the highest level since early April.

“Refinance applications declined for the fourth week as rates increased, bringing the refinance index to its lowest level since July,” noted Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting. “Purchase activity declined and was 12 percent lower than a year ago, within the annual comparison range that it has been over the past six weeks. Insufficient housing supply and elevated home-price growth continue to limit options for would-be buyers.”

 

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