Mortgage applications declined 2.3% w/w (+18.9% y/y) in the week ending May 15, after rising 1.7% w/w (15.5% y/y) in the week ending May 8, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. Applications for loans to purchase a house dropped 4.1% w/w (+8.0% y/y) in the May 15 week, following a rise of 3.9% w/w (6.7% y/y) in the May 8 week. Applications for loan refinancing edged down 0.1% w/w (+34.8% y/y) in the latest week after declining 0.8% w/w (+28.3% y/y) in the May 8 week.

 

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