US Mortgage Applications Bounce Back!
Mortgage applications in the US rose 4.8% in early December after hitting a 3-month low, according to the Mortgage Bankers Association (MBA).
🔹 Refinances surged 14.3%, up 88% YoY
🔹 Refinance share now at 58.2% (from 53%)
🔹 FHA refinances jumped 24%, as FHA 30-year fixed-rate fell to 6.08% – the lowest since Sept 2024
🔹 30-year fixed conforming loans edged slightly higher to 6.33%
🔹 Home purchase applications fell 2.4%, but still 19% higher YoY
Buyers are increasingly eyeing FHA loans to take advantage of lower rates and extra savings.
#USeconomy##MorganStanley# #InterestRate##USeconomy#
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