US mortgage applications post seventh-straight weekly decline, sink 5.3pc.
US mortgage applications fell 5.3% in the week ended 16 October, according to the Mortgage Bankers Association of America, extending their decline to a seventh straight week and taking activity to its lowest level since January 2025.
Source: Sharecast
Applications to purchase a home slid 7.3% on the week, while refinancing activity, which is typically more sensitive to week-to-week rate changes, fell 2%.
The drop came as borrowing costs remained near a three‑year high, with only a marginal easing in the average 30‑year fixed rate. Rising Treasury yields and expectations that the Federal Reserve will keep policy tighter for longer, alongside renewed inflation pressure from surging energy prices linked to the Iran war, continued to weigh on housing demand.
Reporting by Iain Gilbert at Sharecast.com
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