US Mortgage Applications Extend Decline

EthereumCraftsman · 2026-02-04T12:15:18+00:00

Mortgage applications in the US dropped 8.9% in late January, following an 8.5% decline, despite lower mortgage rates. Purchase applications fell 14%, while refinancing requests decreased by 5%.

EthereumCraftsman

2026-02-04 12:15:18

Abstract generation in progress

The volume of mortgage applications in the US fell by 8.9% from the previous week in the last week of January, extending the 8.5% pullback from the earlier period to trim the combined 47% surge that had taken place since the start of the year, according to data compiled by the Mortgage Bankers Association. Applications fell for a second week despite the drop in mortgage rates, while markets continued to assess how the Freddie Mac and the Fannie Mae would comply with President’s Trump order to purchase $200 billion in mortgage-backed securities. Applications for a mortgage to purchase a new home sank by 14%. Meanwhile, applications for contracts to refinance a mortgage, which are sensitive to short-term changes in interest rates, fell by a softer 5% from the previous week.

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