Latest data from the Mortgage Bankers Association for the week ending 24 July 2020
- Prior +4.1%
- Market index 841.9 vs 848.8 prior
- Purchase index 306.1 vs 310.9 prior
- Refinancing index 3,955.9 vs 3,973.3 prior
- 30-year mortgage rate 3.20% vs 3.20%
The drop comes from a decline in purchases activity but it is just a modest decline relative to the overall steady conditions seen over the past few weeks. The long-term rate continues to sit at low levels and that is part of the reason spurring mortgage activity in general.
