USA News Today | Daily Us NewsPaper
Thursday, July 24, 2025
  • Politics
  • Headlines
  • Local news
  • Business
  • Science
  • Lifestyle
  • Tech
USA News Today | Daily Us NewsPaper
No Result
View All Result
Home Business

U.S. Mortgage Applications Pull Back 1.6% In Week Ended March 15th

March 20, 2024
in Business


Mortgage applications in the U.S. saw a notable pullback in the week ended March 15th, according to a report released by the Mortgage Bankers Association on Wednesday.

The MBA said the Market Composite Index, a measure of mortgage loan application volume, decreased 1.6 percent last week after surging by 7.1 percent in the previous week.

The Refinance Index led the way lower, slumping by 2.5 percent during the week, while the Purchase Index slid by 1.2 percent.

“Mortgage rates increased last week as incoming data showed inflation was still hotter than expected, which stoked concerns about the timing and extent to which the Fed might be able to reduce the fed funds rates this year. said Joel Kan, MBA’s Vice President and Deputy Chief Economist.

“Mortgage applications continued to show sensitivity to rate movements, and both purchase and refinance activity decreased over the week,” he added. “With housing supply low and prices high, the average loan size for purchase applications increased to the highest level since May 2022.”

The report also said the refinance share of mortgage activity decreased to 31.2 percent of total applications from 31.6 percent in the previous week, while the adjustable-rate mortgage share of activity decreased to 7.2 percent of total applications.

Copyright © 2024, RTTNews.com, Inc. All Rights Reserved.

Tags: Breaking NewsEconomic NewsForex Top StoryFront Page NewsGeneral NewsTop story

Related Posts

U.S. Consumer Sentiment Tumbles To Six-Month Low In May

by USA News Editor
May 13, 2024
0

A report released by the University of Michigan on Friday showed a substantial deterioration in U.S. consumer sentiment in the...

U.S. Service Sector Activity Contracts For First Time Since December 2022

by USA News Editor
May 3, 2024
0

After growing for fifteen consecutive months, U.S. service sector activity unexpectedly contracted in the month of April, according to a...

U.S. Job Growth Falls Short Of Estimates In April, Unemployment Rate Ticks Higher

by USA News Editor
May 3, 2024
0

After reporting stronger than expected job growth over the past several months, the Labor Department released a report on Friday...

U.S. Factory Orders Surge In Line With Estimates In March

by USA News Editor
May 2, 2024
0

New orders for U.S. manufactured goods surged in line with economist estimates in the month of March, according to a...

U.S. Labor Productivity Increases Modestly In Q1, Labor Costs Spike

by USA News Editor
May 2, 2024
0

A report released by the Labor Department on Thursday showed labor productivity in the U.S. increased by less than expected...

U.S. Trade Deficit Narrows Slightly To $69.4 Billion In March

by USA News Editor
May 2, 2024
0

The U.S. trade deficit edged slightly lower in the month of March, according to a report released by the Commerce...

Advertisement

Today Trend USA News

Morgan Wallen & Eric Church's 'Man Made A Bar' Tops Billboard's Country Airplay Chart

1 year ago

P&G Recalls 8.2 Mln Defective Laundry Detergent Packets

1 year ago
Jack Harlow Announces Gazebo Festival With Co-Headliner SZA

Jack Harlow Announces Gazebo Festival With Co-Headliner SZA

1 year ago
Kanye West & Ty Dolla $ign's 'Carnival' Rises To No. 1 On Billboard Hot 100

Kanye West & Ty Dolla $ign's 'Carnival' Rises To No. 1 On Billboard Hot 100

1 year ago

US Targets Networks Facilitating Sale Of Drones To Iranian Military

1 year ago
U.S. Business Inventories Increases In Line With Estimates In December

14 Patients Evacuated From Khan Younis Hospital

1 year ago

Popular News Today

  • Cypress Hill To Bring 'Simpsons' Joke To Life By Performing With London Symphony Orchestra

    0 shares
    Share 0 Tweet 0
  • European Commission Recommends Member States Maintain 15% Gas Demand Reduction

    0 shares
    Share 0 Tweet 0
  • About
  • Contact Form
  • Terms of Use
  • Privacy Policy
  • DMCA

© 2024 USANEWS.ONE

No Result
View All Result
  • Politics
  • Headlines
  • Local news
  • Business
  • Science
  • Lifestyle
  • Tech

© 2024 USANEWS.ONE

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

We respect your privacy and take protecting it seriously