General World News

Purchase applications decrease for the first time in a month

As rates for most loan types increased, mortgage applications fell to their lowest level in a month last week.

For the week that ended June 30, mortgage applications fell 4.4% from the prior week, according to data from the Mortgage Bankers Association

“As mortgage-Treasury spreads remained wide, the 30-year fixed rate increased to 6.85%, the highest rate since the end of May,” said Joel Kan, MBA’s vice president and deputy chief economist. “Purchase applications decreased for the first time in a month, as homebuyers remained sensitive to rate changes. Rates are still over a details ⇒

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