US Mortgage Applications Slump for 2nd Week

2026-03-25 11:17 By Andre Joaquim 1 min. read

Mortgage applications sank by 10.5% from the previous week on the period ending March 20th, extending the 10.9% decline from the previous week, according to data compiled by the Mortgage Bankers Association.

The slump was in line with the increase in benchmark mortgage rates, which that on a 30-year fixed mortgage reaching a five-month high of 6.43%.

Borrowing costs tracked the surge in long-dated Treasury yields after the outbreak of war in the Persian Gulf suspended energy exports and drove Federal Reserve Policymakers to trim their outlook of rate cuts this year.

Applications for a contract to refinance a mortgage, which are more sensitive to short-term changes in interest rates, sank by 15%.

In turn, applications for a mortgage to buy a home fell 5%.



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US Mortgage Applications Slump for 2nd Week
Mortgage applications sank by 10.5% from the previous week on the period ending March 20th, extending the 10.9% decline from the previous week, according to data compiled by the Mortgage Bankers Association. The slump was in line with the increase in benchmark mortgage rates, which that on a 30-year fixed mortgage reaching a five-month high of 6.43%. Borrowing costs tracked the surge in long-dated Treasury yields after the outbreak of war in the Persian Gulf suspended energy exports and drove Federal Reserve Policymakers to trim their outlook of rate cuts this year. Applications for a contract to refinance a mortgage, which are more sensitive to short-term changes in interest rates, sank by 15%. In turn, applications for a mortgage to buy a home fell 5%.
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US Mortgage Applications Drop 10.9% as Rates Rise
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US Mortgage Applications Rise for 4th Week
The volume of mortgage applications in the US rose by 3.2% from the previous week in the first week of March, recording its fourth consecutive period to the second highest level since 2022. The increase took place despite a fresh increase in benchmark mortgage rates, as the outbreak of war in Persian Gulf countries triggered a surge in energy prices and lifted the yield in long-dated Treasury securities. Applications for a mortgage to purchase a new home jumped by 7.8% after having underperformed the total figure for multiple weeks. In the meantime, applications for a contract to refinance a mortgage, which are more sensitive to short-term changes in interest rates, inched higher by 0.5%.
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