US MBA mortgage applications w.e. 12 October -7.1% vs -1.7% prior

Author: Justin Low | Category: News

Latest data from the Mortgage Bankers Association for the week ending 12 October 2018

  • Purchase index 224.0 vs 238.0 prior
  • Market index 322.1 vs 346.7 prior
  • Refinancing index 838.1 vs 921.2 prior
  • 30-year mortgage rate 5.10% vs 5.05% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. A notable decline in mortgage activity last week but the standout data is that the 30-year rate continues to rise and sits at the highest level since February 2011 currently.

Not a major release by any means and with markets focused on all the other trading themes currently, it's not going to do much to move the needle on the dollar's scale. As for some worries surrounding the US housing market, Adam posted a good argument here yesterday.

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