FX.co ★ US Mortgage Applications Ease

U.S. mortgage applications experienced a 2.6% decline for the week ending June 13th, following a notable 12.5% increase in the prior week. This minor setback coincided with a decrease in benchmark mortgage rates, as the fixed-rate for a 30-year mortgage sank to its lowest in over a month due to economic uncertainty affecting the yield on mortgage-backed securities. Specifically, applications for mortgages to purchase new homes saw a 3% decrease. Meanwhile, refinance applications, which are more responsive to short-term interest rate fluctuations, dropped by 2.1%.