MBA Mortgage Applications Decline
The composite, purchase and refinancing application indexes all declined.
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The composite, purchase and refinancing application indexes all declined.
U.S. stocks reduced losses at midday, but higher Treasury yields continued to weigh on rate-sensitive groups. The 10-year note yield was up five basis points at 5.32% after reaching 5.36% earlier.
The 30-year fixed mortgage rate climbed 19 bps to 7.49% in the week ended Oct. 2, the highest since November 2023. MBA purchase applications fell 2.1% to a more than one-year low, and refinance applications dropped 7.5%.
The Mortgage Bankers Association said mortgage applications declined, after a prior decline.
Homebuilder stocks had one of their best days in months on Tuesday. By Wednesday morning, the mortgage data served a cold shower. The Mortgage Bankers Association (MBA) reported that the average 30-year fixed mortgage rate had risen to 7.12% in the week ending Sept. 18. The iShares U.S. Home Construction ETF (NYSE: ITB
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U.S. new-home sales plunged 10.5% month over month in July to a seasonally adjusted annual rate of 607,000, missing economists’ expectation for a 1.4% decline.
US MBA Mortgage Applications declined 0.4% on Aug 14 versus a 3.6% prior reading, while the 30-year mortgage rate held at 6.77% versus the previous 6.77%.
US MBA mortgage applications declined 0.4%, after a prior 3.6% increase; no forecast was provided.
US mortgage applications increase 3.6% after previous -2.9% decline
U.S. MORTGAGE DEMAND WEAKENS AS RATES HIT ONE-YEAR HIGH U.S. mortgage applications fell 2.9% in the week ended July 31, according to the MBA. The purchase index declined 3.6%, while the refinance index fell 1.9%. The average 30-year mortgage rate rose 5 bps to 6.81%, its highest level in more than a year, weighing on h
US mortgage applications decline
US mortgage applications decline
Mortgage applications increase 1% as refinancing rises 3% and purchases decline 0.6%.