US MBA mortgage applications w.e. 18 September +6.8% vs -2.5 prior
Latest data from the Mortgage Bankers Association for the week ending 18 September 2020
- Prior -2.5%
- Market index 808.5 vs 757.2 prior
- Purchase index 327.0 vs 316.2 prior
- Refinancing index 3,579.8 vs 3,289.4 prior
- 30-year mortgage rate 3.10% vs 3.07% prior
Mortgage activity continues to stay rather robust with the boost in the past week helped by both a surge in purchases and refinancing activity. Of note, the purchase index climbs to its highest level since 2009 and that reaffirms the more robust housing market sentiment despite the virus situation taking a toll on the US economy.