US Mortgage Applications Fall the Most in 6 Months

2025-04-23 11:06 By Andre Joaquim 1 min. read

Mortgage application volumes in the US plunged by 12.7% from the previous week on the period ending April 18th, the sharpest decline since October of the previous year, and extending the 8.5% slump from the previous week, according to data compiled by the Mortgage Bankers Association.

The drop 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 20% on the week.

In turn, applications for a mortgage to buy a new home fell by 7% despite evidence of higher inventory.



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