Ekonomické zprávy

U.S. weekly mortgage applications plunge 4.6 percent

The Mortgage Bankers Association (MBA) reported on Wednesday that the mortgage application volume in the U.S. slumped 4.6 percent in the week ended May 19, following a 5.7 percent tumble the week before.

According to the MBA’s data, last week’s plunge in mortgage applications reflected a 5.4 percent decline in mortgage refinance applications and a 4.3 percent drop in mortgage applications to purchase a home.

The report also revealed that the average fixed 30-year mortgage rate increased from 6.57 percent to 6.69 percent, its highest level since the week ended March 10 (6.71 percent).

Commenting on the latest survey results, Joel Kan, the MBA's vice president and deputy chief economist, noted that mortgage applications declined last week as borrowers remained sensitive to changes in mortgage rates, which rose along with Treasury yields, responding to the uncertainty around the U.S. debt ceiling and remarks from several Federal Reserve officials.

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