Ekonomické zprávy
10.11.2021

U.S. weekly mortgage applications jump 5.5 percent

The Mortgage Bankers Association (MBA) reported on Wednesday the mortgage application volume in the U.S. surged 5.5 percent in the week ended November 5, following a 3.3 percent drop in the previous week. This marked the largest gain in total mortgage application volume since late July.

According to the report, refinance applications climbed 7.4 percent, while applications to purchase a home rose 2.7 percent.

Meanwhile, the average fixed 30-year mortgage rate dropped from 3.30 percent to 3.16 percent, the lowest level in five weeks.

“Although overall activity remains close to January 2020 lows, homeowners acted on the decrease in rates,” noted Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting. “Refinance activity was up 7 percent overall, with gains in both conventional and government refinances. Additionally, the average loan balance for a refinance application was the highest in a month.”

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