US mortgage applications fall 1.5%
By Iain Gilbert
Date: Wednesday 27 Dec 2023
(Sharecast News) - US mortgage applications dropped 1.5% in the week ended 15 December, according to the Mortgage Bankers Association, halting a six-week run of increases.
Last week's fall comes despite benchmark Treasury yields continuing to decline following dovish signals sent by policymakers at the Federal Reserve.
Applications to refinance a home dropped by 2% month-on-month, but remained 18% higher year-on-year, while applications to purchase a home dropped 1%.
Reporting by Iain Gilbert at Sharecast.com
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