General World News

Interest in mortgages hits lowest level in 18 months

After two consecutive weeks of increases, mortgage applications decreased 6.9% in the week ending June 25, 2021, according to the latest report from the Mortgage Bankers Association.

Mortgage applications had increased 2.1% and 4.2% in the previous two weeks, respectively.

The 6.9% dip brought application volume to its lowest level in almost 18 months, according to Mike Fratantoni, MBA’s senior vice president and chief economist. Purchase applications for conventional loans also declined to its lowest level since May 2020.

“Mortgage rates were volatile last week, as investors tried to gauge upcoming moves by details ⇒

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