US mortgage applications fall 0.8c

(Sharecast News) - US mortgage applications slipped 0.8% in the week ended 3 April, according to the Mortgage Bankers Association, extending the 28.5% cumulative decline seen over the previous three weeks. Last week's pullback came even as benchmark mortgage rates retreated from last prior week's seven‑month high, as longer‑dated Treasury yields eased on reduced expectations of further Federal Reserve tightening.

Applications to refinance a mortgate, which tend to be more sensitive to short‑term rate moves, fell 3%, while applications to purchase a home edged up 1% week-on-week - but were down 7% year-on-year, marking the first annual decline since January 2025.







Reporting by Iain Gilbert at Sharecast.com