Mortgage applications in the US sank 7.1% in the week ended January 21st, the biggest decline in 2 months, as the refinancing index plunged 12.6% and the purchase one went down 1.8%, data from the Mortgage Bankers Association showed. The average fixed 30-year mortgage rate increased to 3.72% from 3.64%, hitting a new high since March 2020, as Treasury yields continued to march towards 2-year highs. "After almost two years of lower rates, there are not many borrowers left who have an incentive to refinance. Of those who are still in the market for a refinance, these higher rates are proving much less attractive to them", said Joel Kan, an MBA economist source: Mortgage Bankers Association of America
Mortgage Applications in the United States averaged 0.66 percent from 1990 until 2022, reaching an all time high of 112.10 percent in November of 2008 and a record low of -40.50 percent in January of 1993. This page provides - United States MBA Mortgage Applications - actual values, historical data, forecast, chart, statistics, economic calendar and news. United States MBA Mortgage Applications - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.
Mortgage Applications in the United States is expected to be 2.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States MBA Mortgage Applications is projected to trend around 0.60 percent in 2023, according to our econometric models.