Mortgage applications in the US fell by 3.7% in the week ended May 26th, 2023, data from the Mortgage Bankers Association data showed, depressed by higher interest rates and lack of inventory. The Mortgage Market Index is now at three-month lows. Applications to refinance a home loan which are most sensitive to rate changes sank 6.9%, and those to buy a home fell 2.5%. Meanwhile, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) jumped by 22bps to 6.91%, the highest level since early November. “While refinance demand is almost entirely driven by the level of rates, purchase volume continues to be constrained by the lack of homes on the market”, said Michael Fratantoni, MBA’s chief economist. source: Mortgage Bankers Association of America

Mortgage Applications in the United States averaged 0.58 percent from 1990 until 2023, 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 June of 2023.

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United States MBA Mortgage Applications



Calendar GMT Actual Previous Consensus TEForecast
2023-05-24 11:00 AM MBA Mortgage Applications May/19 -4.6% -5.7%
2023-05-31 11:00 AM MBA Mortgage Applications May/26 -3.7% -4.6%
2023-06-07 11:00 AM MBA Mortgage Applications Jun/02 -3.7%


Related Last Previous Unit Reference
Mortgage Rate 6.91 6.69 percent May 2023
Mortgage Applications -3.70 -4.60 percent May 2023
Average Mortgage Size 439.40 442.00 Thousand USD May 2023
MBA Purchase Index 154.40 158.30 points May 2023
MBA Mortgage Refinance Index 412.50 443.00 points May 2023
MBA Mortgage Market Index 197.40 205.00 points May 2023

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
-3.70 -4.60 112.10 -40.50 1990 - 2023 percent Weekly
SA

News Stream
Mortgage Applications Fall for 3rd Week as Rates Surge
Mortgage applications in the US fell by 3.7% in the week ended May 26th, 2023, data from the Mortgage Bankers Association data showed depressed by higher interest rates and lack of inventory. The Mortgage Market Index is now at three-month lows. Applications to refinance a home loan which are most sensitive to rate changes sank 6.9%, and those to buy a home fell 2.5%. Meanwhile, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) jumped by 22bps to 6.91%, the highest level since early November. “While refinance demand is almost entirely driven by the level of rates, purchase volume continues to be constrained by the lack of homes on the market”, said Michael Fratantoni, MBA’s chief economist.
2023-05-31
Mortgage Applications Down for 2nd Week: MBA
Mortgage applications in the US declined 4.6% in the week ended May 19th 2023, following a 5.7% drop in the previous week, data from the Mortgage Bankers Association data showed. Applications to refinance a home loan sank 5.4% and those to buy a home fell 4.3%. Meanwhile, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) jumped by 12bps to 6.69%, the highest level since early March. “Since rates have been so volatile and for-sale inventory still scarce, we have yet to see sustained growth in purchase applications,” said Joel Kan, MBA’s vice president.
2023-05-24
Mortgage Applications Fall 5.7%: MBA
Mortgage applications in the US declined 5.7% in the week ended May 12th 2023, reversing from a 6.3% jump in the previous week, data from the Mortgage Bankers Association data showed. Applications to refinance a home loan sank 7.7% and those to buy a home fell 4.8%, amid high and volatile interest rates and as for-sale inventory in many parts of the country remains scarce. Meanwhile, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) jumped by 9bps to 6.57%, the highest in two months.
2023-05-17