Why it matters
Fewer applications can signal weaker home-buying and refinancing activity, affecting U.S. homebuyers, homeowners and housing-related businesses. The report links the decline to higher fixed mortgage rates.
HOUSING & REAL ESTATE • UNITED STATES
U.S. mortgage applications fell in October as fixed rates rose
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BLUF
Mortgage application activity fell 14.1% month over month in October, and was 39.8% below a year earlier, according to figures from the Mortgage Bankers Association cited by NAHB. Higher fixed mortgage rates also increased the share of applications for adjustable-rate mortgages, the report says.
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