Mortgage applications in the US were up 2% in the week ended May 6th, a second consecutive increase, and despite a rise in borrowing costs as the spring housing market enters its historically busiest time. Applications to purchase a home surged 4.5% while those to refinance a mortgage loan fell 2%. The average contract rate on a 30-year fixed-rate mortgage jumped by 17bps to 5.53%, the highest since 2009. “Despite a slow start to this year’s spring home buying season, prospective buyers are showing some resiliency to higher rates. Purchase activity has now increased for two straight weeks and more borrowers continue to utilize adjustable-rate mortgages (ARMs) to combat higher rates. The share of ARMs increased to 11% of overall loans and to 19% by dollar volume”, said Joel Kan, an MBA economist. source: Mortgage Bankers Association of America

Mortgage Applications in the United States averaged 0.63 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 May of 2022.

Mortgage Applications in the United States is expected to be 2.00 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.

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United States MBA Mortgage Applications



Calendar GMT Actual Previous Consensus TEForecast
2022-05-04 11:00 AM 29/Apr 2.5% -8.3%
2022-05-11 11:00 AM 06/May 2% 2.5%
2022-05-18 11:00 AM 13/May 2%


Related Last Previous Unit Reference
Mortgage Rate 5.53 5.36 percent May 2022
Mortgage Applications 2.00 2.50 percent May 2022
Average Mortgage Size 449.80 448.10 Thousand USD May 2022
MBA Purchase Index 255.40 244.40 points May 2022
MBA Mortgage Refinance Index 913.60 932.30 points May 2022
MBA Mortgage Market Index 358.90 351.80 points May 2022

United States MBA Mortgage Applications
In the US, the MBA Weekly Mortgage Application Survey is a comprehensive overview of the nationwide mortgage market and covers all types of mortgage originators, including commercial banks, thrift institutions and mortgage banking companies. The entire market is represented by the Market Index which covers all mortgage applications during the week, whether for a purchase or to refinance. The survey covers over 75% of all US retail residential mortgage applications.
Actual Previous Highest Lowest Dates Unit Frequency
2.00 2.50 112.10 -40.50 1990 - 2022 percent Weekly
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News Stream
Mortgage Applications Rise for 2nd Week: MBA
Mortgage applications in the US were up 2% in the week ended May 6th, a second consecutive increase, and despite a rise in borrowing costs as the spring housing market enters its historically busiest time. Applications to purchase a home surged 4.5% while those to refinance a mortgage loan fell 2%. The average contract rate on a 30-year fixed-rate mortgage jumped by 17bps to 5.53%, the highest since 2009. “Despite a slow start to this year’s spring home buying season, prospective buyers are showing some resiliency to higher rates. Purchase activity has now increased for two straight weeks and more borrowers continue to utilize adjustable-rate mortgages (ARMs) to combat higher rates. The share of ARMs increased to 11% of overall loans and to 19% by dollar volume”, said Joel Kan, an MBA economist.
2022-05-11
Mortgage Applications Rise for 1st Time in 2 Months: MBA
Mortgage applications in the US increased 2.5% in the week ending April 29th, the first rise in two months, as the interest rate surge briefly paused, data from the MBA showed. The purchase index surged 4.1% and the refinance one edged higher 0.2% while the average contract rate on a 30-year fixed-rate mortgage fell 1bps to 5.36%. Still, Treasury yields and interest rates already resumed the climb in the first week of May. “The purchase market remains challenged by low levels of housing inventory and rapid home-price gains, as well as the affordability hit from higher mortgage rates that are forcing prospective buyers to factor in higher monthly payments", said Joel Kan, an MBA economist.
2022-05-04
Mortgage Applications Fall for 7th Week
Mortgage applications in the US declined 8.3% in the week ending April 22nd, a 7th straight week of falls, as mortgage rates continue to march higher, data from the MBA showed. The refinancing index sank 9% and the purchase index 7.6%. The average contract rate on a 30-year fixed-rate mortgage increased to 5.37%, the highest since 2009, from 5.20%. “The recent decrease in purchase applications is an indication of potential weakness in home sales in the coming months,” said Joel Kan, an MBA economist. “The ARM share of applications last week was over 9% by loan count and 17% based on dollar volume. At 9%, the ARM share was double what it was three months ago, which also coincides with the 1.5 percentage point increase in the 30-year fixed rate,” noted Kan.
2022-04-27