In spite of low borrowing costs and average price gains, Americans aren’t looking to take on as many new mortgages.
The Mortgage Bankers Association recorded the drop of mortgage applications to 3.3% from last week, even though mortgage interest rates remain low.
Home purchase applications dropped 1% – which was its 3rd weekly decline, however, they still remained 7% higher than they were a year ago. Also, there was a 6% fall in mortgage refinance applications.
Since January 2018, there