US mortgage applications fall in latest week: MBA
[NEW YORK] Applications for US home mortgages fell last week and interest rates declined to their lowest level since May 2013, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 3.3 per cent in the week ended Dec 12.
The MBA's seasonally adjusted index of refinancing applications was unchanged, while the gauge of loan requests for home purchases, a leading indicator of home sales, fell 6.9 per cent.
Fixed 30-year mortgage rates averaged 4.06 per cent in the week, the lowest since May 2013. They were down 5 basis points from 4.11 per cent the week before.
The survey covers over 75 per cent of US retail residential mortgage applications, according to MBA.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Chinese tariffs could leave cognac makers with too much brandy
Xi begins Europe tour in Paris as Macron seeks to reset ties
South Korea’s probe alleges 211.2 billion won of illegal short trades
Suzhou Industrial Park: The crown jewel of China-Singapore relations celebrates its 30th year
Top US Treasury official to travel to Singapore, Malaysia to discuss sanctions
Saudi Arabia posts budget deficit of US$3.3 billion in first quarter