Mortgage applications in the United States went up 30.2 percent in the week ended January 10th 2019, following a 13.5 percent rise in the previous week. It was the biggest gain since the week ended March 20th 2009, as refinancing applications increased 42.7 percent due to a drop in mortgage rates while applications to purchase a home rose 15.5 percent. The average fixed 30-year mortgage rate went down 4bps to 3.87 percent. Mortgage Applications in the United States averaged 0.52 percent from 2007 until 2020, reaching an all time high of 49.10 percent in January of 2015 and a record low of -38.80 percent in January of 2009. source: Mortgage Bankers Association of America
Mortgage Applications in the United States is expected to be 2.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Mortgage Applications in the United States to stand at 0.90 in 12 months time. In the long-term, the United States MBA Mortgage Applications is projected to trend around 0.90 percent in 2020, according to our econometric models.