US MBA mortgage applications w.e. 14 February 2020 -6.4% vs +1.1% prior
Latest data from the Mortgage Bankers Association for the week ending 14 February 2020
- Prior +1.1%
- Purchase index 258.4 vs 267.4 prior
- Market index 645.5 vs 689.5 prior
- Refinancing index 2,87.1 vs 3,123.6 prior
- 30-year mortgage rate 3.77% vs 3.72% prior
The drop mainly owes to refinancing activity, particularly after the surge from two weeks ago. Purchasing activity was also modestly weaker for a third straight week but there isn't much else to gather from that as the long-term rate remains low despite a mild jump last week.