Mortgage applications in the US fell by 2.3% from the previous week in the period ending April 26th, extending the two-month-high decline of 2.7% from the earlier week, according to data compiled by the MBA. The continued drop was in line with another fresh increase in mortgage rates (+5bps to a five-month high of 7.29%), as expectations that high inflation will force the Federal Reserve to maintain interest rates higher for longer triggered a sharp increase in long-dated Treasury yields. Applications to refinance a home fell by 3% from the earlier week, while applications for a mortgage to purchase a new home fell by 2%. In the meantime, elevated mortgage rates drove adjustable-rate mortgages to a total of 7.8% of total contracts in the week, the most this year. source: Mortgage Bankers Association of America
Mortgage Application in the United States decreased by 2.30 percent in the week ending April 26 of 2024 over the previous week. Mortgage Applications in the United States averaged 0.57 percent from 1990 until 2024, reaching an all time high of 112.10 percent in November of 2008 and a record low of -40.50 percent in January of 1993. This page provides - United States MBA Mortgage Applications - actual values, historical data, forecast, chart, statistics, economic calendar and news. United States MBA Mortgage Applications - data, historical chart, forecasts and calendar of releases - was last updated on May of 2024.