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    Home ยป U.S. Mortgage Applications Fell in Latest Week-MBA
    Forex News Updated:June 27, 2022

    U.S. Mortgage Applications Fell in Latest Week-MBA

    July 21, 20211 Min Read
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    The number of applications for home mortgages decreased last week by 4.0% driven by an increase in refinancing activity.

    • The Mortgage Bankers Association (MBA) said on Wednesday its seasonally adjusted market index decreased by 4.0% in the week ending on July 14 from a week earlier.
    • The refinance share of mortgage activity increased to 64.9% of total applications last week from 64.1% the previous week as the adjustable-rate mortgage share of activity decreased to 3.3% of total applications.
    • The average contract interest rate for 30-year fixed-rate mortgages increased to 3.11% last week from 3.09% the prior week.
    •  The average contract interest for traditional 15-year fixed rate mortgages dropped to 2.46% from 2.48% the prior week.

    Limited inventory and higher prices were keeping prospective homebuyers out of the market as refinance rates remained relatively low. 

    EUR USD up 0.19%, DJI gains +0.72%

    Source: Mortgage Bankers Association.

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