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Mortgage Applications Drop to 4-Year Low

Mortgage News > Mortgage Applications Drop to 4-Year Low
Date: 11/07/2018    Mortgage Applications Drop to 4-Year Low

The total number of U.S. mortgage applications filed last week fell to its lowest level in four years, according to the Mortgage Bankers Association. The MBA’s index of mortgage application volume dropped 4% during the week ended Nov. 2 to a reading of 316.2, a level not seen since December 2014. During the same week, 30-year fixed rate mortgage interest rates rose to 5.15% from 5.11%. Rising rates have been a significant factor in a trend of declining mortgage requests. 

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