Latest data from the Mortgage Bankers Association for the week ending 25 October 2019
- Prior -11.9%
- Purchase index 247.2 vs 241.7 prior
- Market index 519.2 vs 515.9 prior
- Refinancing index 2,066.0 vs 2,076.9 prior
- 30-year mortgage rate 4.05% vs 4.02% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. After a sharp drop in refinancing activity in the previous week, mortgage activity is seen more steady this week.
As bond yields start to find some stability, we're seeing the long-term mortgage rate climb back above 4% as well and that'll add some light pressure on home buyers again.
