Mortgage applications in the United States went down 3.2 percent in the week ended November 9th 2018, after a 4 percent drop in the previous week, data from the Mortgage Bankers Association showed. Refinance applications decreased 4.3 percent and applications to purchase a home fell 2.3 percent. The average fixed 30-year mortgage rate rose by 2bps to 5.17 percent, the highest rate since April of 2010. Mortgage Applications in the United States averaged 0.39 percent from 2007 until 2018, 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.
Mortgage Applications in the United States is expected to be 1.20 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 3.50 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.