• U.S. weekly mortgage applications edge down

Market news

18 September 2019

U.S. weekly mortgage applications edge down

The Mortgage Bankers Association (MBA) reported on Wednesday the mortgage application volume in the U.S. fell 0.1 percent in the week ended September 13, following a 2.0 percent advance in the previous week.

According to the report, applications to purchase a home rose 6 percent, while refinance applications fell 4 percent.

Meanwhile, the average fixed 30-year mortgage rate increased to 4.01 percent from 3.82 percent.

“New home purchase activity was robust in August, as both mortgage applications and estimated home sales increased from a year ago,” said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting. “Recent increases in new residential housing permits and housing starts, lower mortgage rates, and a still-strong job market all bode well for the new home sales outlook.”

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