US Weekly Mortgage Applications Decreased 1.4%

US Weekly Mortgage Applications Decreased 1.4%

(Teleborsa) – In Mortgage applications in the United States. In the week ending June 2, 2023, the index that measures the volume of applications for mortgage loans recorded a decline of 1.4%, following a decline of 3.7% in the previous week.

Catalog of applications Refinance decreased by 0.7% in relation to New questions records a decrease of 1.7%.

This was stated by the Mortgage Bankers Association (MBA), noting that i Thirty year mortgage rates It fell to 6.81% from 6.91% the previous week.

“Mortgage rates fell last week from a recent high, but overall application activity fell for the fourth consecutive week. The 30-year fixed rate fell to 6.81%, 10 basis points lower than last week, but still a significant The second highest rate for 2023said Joel Kahn, vice president and deputy chief economist at MBA.

“Overall claims are down more than 30% from a year ago, as borrowers continue to struggle with the high rate environment,” he added. “Buying activity is restricted by purchasing power,” he added. The continued shortage of shares offered for sale in the marketwhile there are still few price incentives for borrowers to refinance.”

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