General World News

Mortgage applications fell 1.8% ahead of FOMC meeting 

As mortgage rates remained stubbornly high last week, hovering around 6.87%, mortgage applications fell from a week prior. For the week that ended July 21, mortgage applications fell 1.8% from the prior week, according to data from the Mortgage Bankers Association

“Mortgage rates were essentially flat last week but remained high, with the 30-year fixed staying at 6.87% and contributing to a pullback in mortgage applications,” said Joel Kan, MBA’s vice president and deputy chief economist.

The MBA said the 2.5% decline in purchase applications pushed the index to its lowest level in over a details ⇒

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