Subscribe Register Login

Saturday, April 25, 2015, 4:53 p.m.
Top Picks - Arkansas Daily Deal

U.S. mortgage applications tumble to a 13-year low

By The Associated Press

This article was published December 24, 2013 at 10:08 a.m.

WASHINGTON — The number of Americans applying for mortgages has fallen 63 percent since a May peak, reflecting a cooling housing market and higher borrowing rates.

The Mortgage Bankers Association said Tuesday that applications fell a seasonally adjusted 6.3 percent last week from a week earlier. Applications are now at a 13-year low.

The drop-off follows a 1 percentage point increase in mortgage rates from historic lows last spring. The average for a 30-year mortgage is 4.47 percent, according to Federal Home Loan Mortgage Corp., also known as Freddie Mac.

Comments on: U.S. mortgage applications tumble to a 13-year low

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.


Search 1065 jobs >

Top Picks - Arkansas Daily Deal
Arkansas Online