US Mortgage Applications Slump the Most YTD

2025-04-16 11:11 By Andre Joaquim 1 min. read

Mortgage application volumes in the US slumped by 8.5% from the previous week in the second week of April, the sharpest decline since the start of the year to trim the 20% surge from the earlier week, according to data compiled by the Mortgage Bankers Association.

The slump was in line with higher benchmark mortgage rates after the escalation of tariffs by the US against major trading partners triggered a selloff in long-dated Treasury securities and asset-backed securities.

Applications to refinance a home, which are more sensitive to short-term changes in interest rates, slumped by 12% on the week.

In turn, applications for a mortgage to buy a new home fell by 5% despite evidence of higher inventory.



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