US Mortgage Applications

Mortgage applications spike after Trump victory Borrowers keen to lock in low rates while they can

Fearful of rising interest rates following Donald Trump’s ele上海龙凤论坛

ction victory, homebuyers are rushing to land mortgages. The number of home loan applications in the U.S. last week was 5.5 percent higher than a 爱上海同城论坛

year ago, according to the Mortgage Bankers Association.

Overall loan dollar volume was up 10 percent.

The increase in purchase activity was driven by bor上海夜网论坛

rowers seeking larger loans, with applications for purchase loans above $417,000 increasing 16.8 percent for the week, MBA s chief economist Michael Frantantoni to上海贵族宝贝交流区

ld CNBC. This change led to the average purchase application loan amount reaching a new record of $310,000.”

One reason for the spike in jumbo loans is that the spread between their interest rate and the rate on regular 30-year loans has widened, Frantantoni said.

Applications for mortgages to refinance homes, meanwhile, fell by 3 percent.

The 10-year Treasury yield, a benchmark for mortgage rates, r阿拉爱上海同城

ose in the wake of Trump’s victory as investors predict his planned fiscal stimulus could lead to rising inflation and interest rates.
[CNBC] Konrad Putzier

Tags: Donald Trump
We are having some technical difficulties. Try again later.

By clicking Subscribe you agree to our Privacy Policy.

Tag :

Leave a Comment

Your email address will not be published. Required fields are marked *