Latest data from the Mortgage Bankers Association for the week ending 15 March 2019
- Prior -2.5%
- Purchase index 251.5 vs 250.8 prior
- Market index 390.0 vs 384.0 prior
- Refinancing index 1,146.8 vs 1,108.3 prior
- 30-year mortgage rate 4.55% vs 4.64% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. Mortgage activity increased slightly during the week but of note, the long-term rate falls by 9 bps to 4.55% in what will be a relief for new home buyers. That should at least provide some relief to the sombre tone seen in the US housing market lately.
