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U.S. MBA mortgage applications fell for sixth straight week

Mortgage applications for MBAs in the U.S. fell 5% last week, the sixth straight weekly decline, after falling 1.3% in the previous week. Among them, home ownership mortgages fell by 3%, while remortgage applications fell sharply by 7.7%. Affected by high inflation and the accelerated tightening of monetary policy by the Federal Reserve, the US 30-year average fixed mortgage interest rate continued to climb from 5.13% in the previous value to 5.2%, the highest level in nearly 12 years. Coupled with the high local property prices, it brings certain challenges to the purchase intention and ability of home buyers.
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