US Mortgage Rates at 6.50%... Application Volume Down 10.1%

On the 21st (local time), the Mortgage Bankers Association (MBA) of the United States announced that the average 30-year mortgage rate in the US last week was 6.50%, slightly down from 6.54% the previous week.

The number of mortgage applications in the US decreased by 10.1%. The previous week had seen an increase of 16.8%.