Mortgage applications in the United States increased by 15.6% in the week ending June 7, according to the Mortgage Bankers Association. This rise was driven by a 5 basis point (5bp) drop in mortgage rates to 7.02%, the lowest since March 28. Applications for purchase loans rose by 9 percent from the previous week, while refinancing applications surged by 28.4%. This marks the largest increase in mortgage applications since January 2023.
A 5bp drop in mortgage rates (to 7.02%) drove a 15.6% jump in mortgage applications for the week ending June 7, the largest increase since January 2023. @KoyfinCharts https://t.co/syNTQ4snuL
Rates have returned to last week's levels, when applications for purchase loans leapt by 9 percent from the week before, and refi applications surged by 28 percent. https://t.co/o6czOAVVFq
The 30yr mortgage rate dropped under 7%, lowest since March 28 https://t.co/rBGnZ6xpu2 https://t.co/srK0QQpktY
🏠US mortgage applications were up 15.6% in the week ended June 7, according to the Mortgage Bankers Association. Applications for Purchases rose 8.6% on the week, while those for Refinancings increased 28.4%
MBA: Mortgage Applications Increased in Weekly Survey https://t.co/TZv7k7MCwJ https://t.co/On5EALOQ3Z