The number of applications for mortgages in the US last week fell by 3.4%

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Over the past week, the total number of applications for mortgage lending in the United States decreased by 3.4%, but compared with the same period a year earlier, the figure jumped by 31.6%, the Mortgage Bankers Association reported. At the same time, the number of applications for refinancing decreased by the end of the week by 4%, and over the year their volume increased by 79.5%. The annual rate was the highest since January last year. According to experts, a slight increase in mortgage rates on loans has led to a weakening of the overall refinancing activity. The average contract rate for thirty-year mortgage loans with a fixed rate was 4.14%. A week earlier, it was at the level of 4.12%. The number of applications filed by Americans for the purchase of housing decreased by 4% over the week, but over the year it grew by 4%. The low unemployment rate and the growing demand from Americans who first acquire housing strengthen the activity of buyers.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
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