Mortgage applications in the US increased 2.3% in the second week of January, led by a 7.9% jump in loans to buy a home, while refinancing applications dropped 3.1% to their lowest level in more than two years, data from the Mortgage Bankers Association showed. Meanwhile, the average fixed 30-year mortgage rate increased for a 4th consecutive week to 3.64%, a new high since March 2020, and tracking a surge in Treasury yields. "FHA and VA refinance declines drove most of the refinance slowdown. The slower growth in government purchase activity is also contributing to the larger loan balances and suggests that prospective first-time buyers are struggling to find homes to buy in their price range", said Joel Kan, MBA’s associate vice president. 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.

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United States MBA Mortgage Applications


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.
Actual Previous Highest Lowest Dates Unit Frequency
2.30 1.40 112.10 -40.50 1990 - 2022 percent Weekly
SA

Calendar GMT Actual Previous Consensus TEForecast
2022-01-12 12:00 PM 07/Jan 1.4% -5.6%
2022-01-19 12:00 PM 14/Jan 2.3% 1.4%
2022-01-26 12:00 PM 21/Jan 2.3%


Related Last Previous Unit Reference
Mortgage Rate 3.64 3.52 percent Jan/22
Mortgage Applications 2.30 1.40 percent Jan/22
MBA Purchase Index 305.70 283.40 points Jan/22
MBA Mortgage Refinance Index 2276.30 2349.80 points Jan/22
MBA Mortgage Market Index 593.70 580.60 points Jan/22


News Stream
Mortgage Applications Increase Despite Rising Rates
Mortgage applications in the US increased 2.3% in the second week of January, led by a 7.9% jump in loans to buy a home, while refinancing applications dropped 3.1% to their lowest level in more than two years, data from the Mortgage Bankers Association showed. Meanwhile, the average fixed 30-year mortgage rate increased for a 4th consecutive week to 3.64%, a new high since March 2020, and tracking a surge in Treasury yields. "FHA and VA refinance declines drove most of the refinance slowdown. The slower growth in government purchase activity is also contributing to the larger loan balances and suggests that prospective first-time buyers are struggling to find homes to buy in their price range", said Joel Kan, MBA’s associate vice president.
2022-01-19
Mortgage Applications Up, Rates at 2-Year High: MBA
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.
2022-01-12
US Mortgage Applications Finish 2021 Lower: MBA
Mortgage applications in the US sank 5.6 percent in the week ended December 31st, amid rising interest rates, data from the Mortgage Bankers Association showed. Applications to purchase a home dropped 10.2 percent and those to refinance a home loan went down 2.5 percent. Meanwhile, the average fixed 30-year mortgage rate increased by 6bps from the previous two weeks to 3.33%, the highest since the first week of April, in line with soaring Treasury yields. “Mortgage rates continued to creep higher over the past two weeks, as markets maintained an optimistic view of the economy. Refinance demand continues to dwindle, as many borrowers refinanced in 2020, and in early 2021. Despite supply and affordability challenges, 2021 was a record year for purchase originations. MBA expects 2022 to be even stronger, with total purchase activity reaching $1.74 trillion”, said Joel Kan, an MBA economist.
2022-01-05