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20.08.202511:09:05UTC+00US Mortgage Applications Inch Lower

In the second week of August, mortgage applications in the United States experienced a slight decline of 1.4% compared to the previous week. This decrease follows a significant 14% surge in demand observed over the two preceding weeks, as reported by the Mortgage Bankers Association. The modest drop aligns with a marginal 1 basis point increase in the benchmark 30-year mortgage rate. During the same period, long-term Treasury securities saw a more pronounced rise, influenced by unsatisfactory auction results and a robust Producer Price Index (PPI) report. Applications for home purchase loans remained relatively stable week-over-week. Conversely, applications to refinance existing mortgages, which are more susceptible to short-term interest rate fluctuations, decreased by 3.1%.

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