99
In the week ending 2 December, mortgage applications in the USA recorded a decrease of 1.9%, from the previous -0.8%. This was announced by the Mortgage Bankers Associations (MBA), specifying that fixed rates on thirty-year mortgages fell by 8 basis points compared to the previous week, settling at 6.41%.
US mortgage rates fell for the fourth consecutive week, the longest period of declines since May 2019, on signs that the Federal Reserve is slowing the pace of interest rate hikes.
The US central bank is expected to increase the cost of money by 50 basis points at next week’s meeting, after four consecutive 75 bp adjustments that brought rates within the 3.75%-4% range.