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Macroeconomics  |  August 29, 2012 15:47:00

Mortgage applications in the U.S. drop the fourth week in a row


Applications for mortgages in the past week in the United States fell again, affected by weak demand for refinancing, even though interest rates headed down. According to U.S. Weekly Review national banking association to 24 August weakened composite index by 4.3% after a decline of 7.4% in the previous period. Indicator refinancing fell by 6.0%, after falling by 9.2% a week ago, the lowest level recorded since the 11th May. The share of refinancing to the total number of applications decreased by 1% to 79%. Mortgage index, as leading indicator of home sales, rose by 1.0%, followed by growth of 0.9% a week ago.The average rate of 30 - year fixed-rate mortgages fell by 6 basis points to 3.80%.



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