Mortgage Bankers Association (MBA) reported on Wednesday the mortgage
application volume in the U.S. tumbled 6.9 percent in the week ended June 25,
following a 2.1 percent gain in the previous week. This marked the first
decline in total mortgage application volume in three weeks and the largest fall since mid-February.
According to the report, refinance applications plunged 8.2 percent, while applications to purchase a home decreased 4.8 percent.
Meanwhile, the average fixed 30-year mortgage rate rose from 3.18 percent to 3.20 percent, the highest in two months.
“Mortgage rates were volatile last week, as investors tried to gauge upcoming moves by the Federal Reserve amidst several divergent signals, including rising inflation, mixed job market data, strong consumer spending, and a supply-constrained housing market that has led to rapid home-price growth,” noted Michael Fratantoni, chief economist at the Mortgage Bankers Association.
© 2000-2022. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at email@example.com.