(Finance) – The mortgage applications in the United States in the last week. The index that measures the volume of mortgage loan applications recorded a decrease of 5.4%, after 0.7% in the previous week. The index relating to requests for refinancing fell by 7.7%, while that relating to new questions marks a decrease of 4.3%.
This was announced by the Mortgage Bankers Associations (MBA), indicating that i rates on thirty-year mortgages they fell to 5.74% from 5.84% previously reported.
“Mortgage rates fell for the second consecutive week as the growing concerns about an economic slowdown and rising recession risks have kept Treasury yields lower, ”said Joel Kan, associate vice president of economic forecasts at MBA.
“Rates are still significantly higher than they were a year ago, which is why home purchase and refinancing applications remain depressed. Buying activity is hampered by cconstant accessibility and low-inventory challenges“added Kan.
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