US mortgage applications decline by 3.1% - Breaking The News
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US mortgage applications decline by 3.1%

Economy
Christian Baha / DJ

1 min read

EPA-EFE/ERIK S. LESSER

Mortgage applications in the United States fell by 3.1% in the week ending August 4, the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey revealed on Wednesday. The Mortgage Market Index was down by 6.2 points compared to the previous week, landing at 194.5, and the Refinance Index plunged 17.5 points to 416.1. The 30-year mortgage rate continued growing, adding 0.16 percentage points to 7.09%.

"Treasury yields rates rose last week and mortgage rates followed suit, due to a combination of the Treasury’s funding announcement and the downgrading of the US government debt rating," MBA Vice President and Deputy Chief Economist Joel Kan said.

datamortgage applicationsmba
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