Latest data from the Mortgage Bankers Association for the week ending 26 July 2019
- Prior -1.9%
- Purchase index 253.0 vs 260.8 prior
- Market index 484.0 vs 490.8 prior
- Refinancing index 1,791.2 vs 1,789.8 prior
- 30-year mortgage rate 4.08% vs 4.08% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. Mortgage activity slumped for a fifth straight week as the softness in the US housing market is starting to become more prevalent in the past month.
The long-term mortgage rate is seen holding steady at 4.08% with all eyes on the Fed communique later today to determine where rates should be headed in the coming months.
