Ekonomické zprávy

U.S. weekly mortgage applications fall 0.6 per cent

The Mortgage Bankers Association (MBA) reported on Wednesday that the mortgage application volume in the U.S. fell 0.6 per cent in the week ended March 29, following a 0.7 per cent decrease the week before. This was the third straight weekly drop in total mortgage application volume.

According to the MBA’s data, last week’s fall in mortgage applications was mainly due to a 1.6 per cent decline in mortgage refinance applications. In addition, mortgage applications to purchase a home edged down 0.1 per cent. 

The report also revealed that the average fixed 30-year mortgage rate slipped from 6.93 per cent to 6.91 per cent, the lowest level in three weeks.

Commenting on the latest survey results, Joel Kan, MBA’s vice president and deputy chief economist, noted that last week’s marginal drop in mortgage rates did little to ignite overall mortgage application activity. “Elevated mortgage rates continued to weigh down on home buying,” he added. 

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