The Mortgage
Bankers Association (MBA) announced
on Wednesday that the mortgage application volume in the U.S. edged up 0.1 per
cent in the week ended January 17, following a 33.3 per cent soar the week before.
According to
the MBA’s data, last week’s uptick in mortgage applications reflected a 0.6 per
cent increase in mortgage applications to purchase a home offset by a 2.9 per cent decline in mortgage refinance applications.
The report also revealed that the average fixed
30-year mortgage rate slipped from 7.09 per cent to 7.02 per cent, recording its first drop since early December 2024.