Latest data from the Mortgage Bankers Association for the week ending 23 October 2020
- Prior -0.6%
- Market index 807.8 vs 794.2 prior
- Purchase index 305.2 vs 304.6 prior
- Refinancing index 3,711.6 vs 3,620.5 prior
- 30-year mortgage rate 3.00% vs 3.02% prior
The rise last week largely stems from an increase in refinancing activity, although purchases were also seen higher as well. This reaffirms the narrative that the housing market still remains somewhat steady despite the massive wave of virus infections in the US.
