According to data compiled by the Mortgage Bankers Association (MBA), mortgage applications in the US for the week ended April 24 fell 1.6% from the previous week. The decline was in line with a 2 bps increase in the MBAs benchmark mortgage rate to 6.37%.Refinancing mortgage applications, which are more sensitive to short-term rate changes, dropped 4%. In contrast, mortgage applications for new home purchases edged up 1%.Related NewsPersonal Spending MoM for Mar in the United States is 0.9%, higher than the previous value of 0.6%. The forecast was 0.9%.(to/s)
AASTOCKS Financial News