Ekonomické zprávy

U.S. weekly mortgage applications tumble 8.8 percent

The Mortgage Bankers Association (MBA) reported on Wednesday that the mortgage application volume in the U.S. plummeted 8.8 percent in the week ended April 14, following a 5.3 percent climb the week before. This was the steepest weekly drop in mortgage applications since the week ended February 17 (-13.3 percent).

According to the MBA’s data, last week’s plunge in mortgage applications reflected a 10.0 percent tumble in mortgage applications to purchase a home and a 5.8 percent decline in mortgage refinance applications.

The report also revealed that the average fixed 30-year mortgage rate jumped from 6.30 percent to 6.43 percent, recording its first increase in six weeks.

Commenting on the latest survey results, Joel Kan, MBA's vice president and deputy chief economist, said that last week’s rise in mortgage rates prompted a pullback in application activity. “With more first-time homebuyers in the market, we continue to see increased sensitivity to rate changes,” he noted.

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