Mortgage applications in the US increased 1.4% in the first week of January, led by a 2.2% rise in the purchase index while applications to refinance a mortgage edged down 0.1%, data from the Mortgage Bankers Association showed. The rise in housing finance comes amid a spike in the average fixed 30-year mortgage rate increased to 3.52%, the highest since March 2020. Still, compared to the previous year, applications were still 17% lower and the refinance index fell 50%. “Mortgage rates increased significantly across all loan types last week as the Federal Reserve’s signaling of tighter policy ahead pushed US Treasury yields higher. The housing market started 2022 on a strong note. Both conventional and government purchase applications showed increases, with FHA purchase applications increasing almost 9%, and VA applications increasing more than 5%”, 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.