Latest data from the Mortgage Bankers Association for the week ending 11 January 2019
- Purchase index 278.5 vs 255.5 prior
- Market index 411.8 vs 362.7 prior
- Refinancing index 1,172.4 vs 987.9 prior
- 30-year mortgage rate 4.74% vs 4.74% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. The strong start in mortgage activity for the new year continues as the market index rises to its highest level since February last year. Meanwhile, the purchase index hits its highest level since April 2010.
The long-term mortgage rate holds steady at 4.74% but has come off quite a bit in recent weeks so that will still add encouragement to home buyers for the time being.
