US mortgage applications drop by 17pc in weekMortgage applications nationwide dropped 17.9 percent in one week, according to a Mortgage Bankers Association survey released Wednesday. Purchase applications, which hint at future activity, slid 12 percent in a week, and a whopping 33 percent from the same week last year. It’s far worse in regions where the coronavirus is raging. Compared with last year, purchase applications tumbled 38 percent in Washington state and 31.3 percent in New York which recorded 731 new coronavirus deaths, the biggest one-day jump yet. California reported a 15.9 percent drop in applications.-AP

Source: The Standard April 08, 2020 15:40 UTC