US Mortgage Applications Drop 14.2%... Largest Decline in Over Two Years

A single-family house for sale in Maryland, USA.
[Image source=Yonhap News]

[Asia Economy Reporter Song Seung-seop] On the 5th (local time), the Mortgage Bankers Association (MBA) of the United States announced that the number of mortgage applications in the U.S. decreased by 14.2% compared to the previous week. This is the largest drop since August 4, 2020, when it fell by 17.9% compared to the previous week.

The 30-year mortgage rate announced by the MBA rose slightly to 6.75% compared to 6.52% the previous week.