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<Econ> US MBA Mortgage Applications Decline by 10.5% Last Week
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According to data from the Mortgage Bankers Association (MBA) in the US, mortgage applications for the week ending March 20 decreased by 10.5% compared to the previous week, continuing the prior week's decline of 10.9%. The downward trend aligns with the rise in benchmark mortgage rates, with the 30-year fixed mortgage rate increasing by 13 bps to reach a five-month peak of 6.43%. Applications for refinancing mortgages, which are more sensitive to short-term interest rate changes, fell by 15%. Meanwhile, applications for home purchase mortgages decreased by 5%. (to/s) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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