Mortgage applications in the US were up 5.7% in the week ended July 23rd, rebounding from a 4% drop in the previous week, as mortgage rates fell, data from MBA showed. Applications to refinance a home loan jumped 9.3% while those to purchase a home fell 1.6%. The average fixed 30-year mortgage rate dropped by 10bps to 3.01%, the lowest since the week ended February 12th. "The purchase index decreased for the second week in a row to its lowest level since May 2020, and has now declined on an annual basis for the past three months. Potential buyers continue to be put off by extremely high home prices and increased competition", Joel Kan, MBA's associate vice president of economic and industry forecasting, said. source: Mortgage Bankers Association of America
Mortgage Applications in the United States averaged 0.53 percent from 2007 until 2021, reaching an all time high of 55.40 percent in March of 2020 and a record low of -38.80 percent in January of 2009. 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 July of 2021.
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 2022, according to our econometric models.