Housing loan interest rates in the USA fell to the lowest level of the last month

Mortgage interest rates in the USA fell to the lowest level of the last month.

The 30 -year loan rates announced today decreased from 6.71 %to 6.48 %per week ending on March 17. The loan interest rates rising for 4 weeks in a row decreased in the last two weeks with the expectation that concerns in the banking sector would curb the FED.

Markets are waiting for the FED to increase 25 basis points instead of 50 at the FOMC meeting to be held today. Fed President Powell's statements on March 7 and 8 increased the expectation of 50 basis points. However, with the bankruptcy of the banks and the liquidity problem in the sector, the expectation of 50 basis points was deleted.

Housing loan applications increased

With the opening of the housing season in the USA, there is a revival in loan applications. Applications increased by 3 %in the last week and carried the rise series to the third week.

MBA Vice President and Chief Economist Joel Kan, who announced the data, pointed out that mortgage interest rates did not decline as much as bond rates.