Notizie economiche
23.10.2024

U.S. weekly mortgage applications plummet 6.7 per cent

The Mortgage Bankers Association (MBA) reported on Wednesday that the mortgage application volume in the U.S. plummeted by 6.7 per cent in the week ended October 18, following a 17.0 per cent tumble the week before. Overall, this was the fourth straight weekly decline in total mortgage application volume.

According to the MBA’s data, last week’s drop in mortgage applications reflected an 8.4 per cent decrease in mortgage refinance applications and a 5.1 per cent fall in mortgage applications to purchase a home.

The report also revealed that the average fixed 30-year mortgage rate remained unchanged at 6.52 per cent.

Commenting on the latest survey results, Mike Fratantoni, MBA’s SVP and chief economist, Joel Kan, MBA’s vice president and deputy chief economist, noted that for-sale inventory had started to loosen, and home-price growth had eased in some markets, providing more options for buyers in combination with these lower rates.

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