Economic Buzz: US mortgage applications growth slows

U.S. mortgage applications grew at a modest pace in the week ended September 19 following a surge in the previous week, survey data from the Mortgage Bankers Association showed on Wednesday.

The market composite index, which measures the mortgage loan application volume, rose a seasonally 0.6 percent from the previous week, when it jumped 29.7 percent.

The refinance index climbed 1 percent and the purchase index increased 0.3 percent, the MBA survey showed.

The refinance share of mortgage activity rose to 60.2 percent of total applications from 59.8 percent the previous week.

The 30-year fixed mortgage rate fell to 6.34 percent, which was the lowest level since September 2024.

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