US mortgage applications fall 2pc

(Sharecast News) - US mortgage applications fell 2% week-on-week in the seven days ended 24 January, according to the Mortgage Bankers Association of America. Last week's decline came as benchmark mortgage rates remained above the 7% threshold despite a drop in long-dated Treasury yields.

Applications to refinance a mortgage fell 7%, while applications to purchase a new home slipped 0.4%.







Reporting by Iain Gilbert at Sharecast.com