Ekonomické zprávy
12.01.2022

U.S. weekly mortgage applications increase 1.4 percent

The Mortgage Bankers Association (MBA) announced on Wednesday the mortgage application volume in the U.S. increased 1.4 percent in the week ended January, following a 5.6 percent fall the week before.

According to the MBA’s data, last week’s gain reflected a 2.2 percent increase in applications to purchase a home, which was partially offset by a 0.1 percent drop in refinance applications.

Meanwhile, the average fixed 30-year mortgage rate jumped from 3.33 percent to 3.52 percent, its highest level since the week ended March 21, 2020 (3.82 percent).

Commenting on the survey's results, Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting, said that a climb in mortgage rates was due to a significant rise in U.S. Treasury yields, which was bolstered by the Fed’s signals of further policy tightening.

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