US: MBA Mortgage Applications declined by 17.9% in week ending Apr. 3rd

• Weekly Mortgage Applications in the US fell sharply.
• US Dollar Index clings to small daily gains above 100 after the data.

Mortgage Applications in the US declined by 17.9% in the week ending April 3rd, the data published by the Mortgage Bankers Association (MBA) showed on Wednesday. This reading followed a 15.3% increase in the previous week.

Further details of the publication revealed that the Mortgage Purchase Index fell by 12.2% to its lowest level since 2015 at 185.9 and the Refinancing Index dropped by 19.4% to 3,853.1.

Market reaction

The US Dollar Index largely ignored this report and was last seen adding 0.18% on the day at 100.13. The S&P 500 Real Estate Index could come under pressure after the opening bell on Wednesday due to the sharp decline in mortgage applications.