Mortgage applications in the United States increased 1.6 percent in the week ended December 7th 2018, following a 2 percent gain in the previous week, data from the Mortgage Bankers Association showed. Refinance applications went up 1.8 percent and applications to purchase a home rose 2.5 percent. The average fixed 30-year mortgage rate fell by 12bps to 4.96 percent. Mortgage Applications in the United States averaged 0.40 percent from 2007 until 2018, reaching an all time high of 49.10 percent in January of 2015 and a record low of -38.80 percent in January of 2009.
Mortgage Applications in the United States is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Mortgage Applications in the United States to stand at 3.50 in 12 months time. In the long-term, the United States MBA Mortgage Applications is projected to trend around 0.90 percent in 2020, according to our econometric models.