Mortgage applications in the United States increased 26.8 percent in the week ended June 7th 2019, following a 1.5 percent rise in the previous week, data from the Mortgage Bankers Association showed. It was the biggest gain since the week ended January 9th 2015. Refinance applications went up 46.5 percent and applications to purchase a home advanced 10 percent. The average fixed 30-year mortgage rate fell by 11bps to 4.12 percent, the lowest level since the week ended September 29th 2017. Mortgage Applications in the United States averaged 0.48 percent from 2007 until 2019, reaching an all time high of 49.10 percent in January of 2015 and a record low of -38.80 percent in January of 2009.
Mortgage Applications in the United States is expected to be -0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Mortgage Applications in the United States to stand at 2.70 in 12 months time. In the long-term, the United States MBA Mortgage Applications is projected to trend around 0.90 percent in 2020, according to our econometric models.