Latest data from the Mortgage Bankers Association for the week ending 15 November 2019
- Prior +9.6%
- Purchase index 270.4 vs 253.4 prior
- Market index 556.0 vs 568.4 prior
- Refinancing index 2,190.6 vs 2,374.6 prior
- 30-year mortgage rate 3.99% vs 4.03% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. It's a bit of a moderation after the higher jump last week, with refinancing activity settling lower this time around.
The long-term mortgage rate looks to be holding around ~4% and unless we see more substantial rate cuts on the way by the Fed, it should stick around there for now.
