US MBA mortgage applications w.e. 13 November -0.3% vs -0.5% prior
Latest data from the Mortgage Bankers Association for the week ending 13 November 2020
- Prior -0.5%
- Market index 831.5 vs 833.9 prior
- Purchase index 303.9 vs 293.5 prior
- Refinancing index 3,901.6 vs 3,973.1 prior
- 30-year mortgage rate 2.99% vs 2.98% prior
The drop in the past week largely comes from a decline in refinancing activity as purchases were seen higher after having fallen as of late. This indicates that there is still some appetite in the housing market but we'll see how the trend progresses in the coming weeks to have a better idea heading into the year-end.