• Purchase index 163.4 vs 171.7 prior
  • Refi index 1852.3 vs 1502.4
  • 30 year mortgage rate 4.10% vs 4.20% prior

Refinancing now at the highest since Nov 2013 owing to the drop in the mortgage rate which dropped to the lowest since May 2013.

We may also see some effect of the increase in refi’s play out in the MBS market as mortgages get refinanced at lower interest rates which, lowers the yield to MBS investors.

US MBA refi index 22 10 2014

US MBA refi index 22 10 2014