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2026-04-08 19:19:44
[US Mortgage Applications Decline for Fourth Consecutive Week] ⑴ Data from the Mortgage Bankers Association shows that US mortgage applications fell 0.8% week-over-week in the week ending April 3, continuing the sharp decline of 28.5% accumulated over the previous three weeks. Although benchmark mortgage rates have retreated from their seven-month highs last week, the recent downward trend continues. ⑵ Long-term Treasury yields fell from recent peaks during the week as markets considered the growth aspect of stagflation concerns, reducing bets on the Federal Reserve potentially resuming rate hikes this year to curb energy-driven price increases. However, amid high uncertainty, household credit sentiment remained subdued. ⑶ Mortgage refinancing applications, which are more sensitive to short-term interest rate changes, fell 3%. Mortgage applications for new home purchases rose slightly by 1%, but fell 7% year-over-year, marking the first year-over-year decline since January 2025.
