U.S. Weekly Mortgage Applications Decreased by 3.1% in the First Week of June

U.S. weekly mortgage applications declined by 3.1% in the first week of June.

Source: Mortgage Bankers Association

SPDR Homebuilders ETF is down 1.16%

Adjustment for the Memorial Day holiday was factored in the results.

The 30-year fixed-rate mortgage decreased by 3.15%.

The average loan amount on a mortgage application decreased to $407,000.

Refinance share of mortgage activity was down to 60.4% of total applications.